A business buys $5,000 worth of inputs from other firms in order to produce a product. The business makes 100 units of the product and each of them sells for $65. The value added by 25-46 Copyright © 2015 McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education. the business to these products is:
A. $5,000
B. $6,500
C. $1,500
D. $1,000
C. $1,500
You might also like to view...
All of the following are assumptions of both market and public-sector decision making EXCEPT
A) Decisions are based on majority rule. B) Decisions are motivated by individuals' self-interest. C) Opportunity costs exist in decisions. D) Choices reflect incentives faced by decision makers.
A product in the first stage of production is defined as a(n):
a. basic need. b. investment. c. environmental product. d. primary product. e. transitory product.
A decrease in the number of dry cleaners in an area can be represented by a(n)
a. downward movement along the dry cleaning supply curve b. upward movement along the dry cleaning supply curve c. leftward shift in the dry cleaning supply curve d. rightward shift in the dry cleaning supply curve e. vertical dry cleaning supply curve
How might Roger’s Plastics Company experience an adverse selection of patients for its health insurance plan?
a. by requiring all employees to be covered under the program b. by offering voluntary insurance, which ends up getting used only by people who know they are sick c. by requiring all participants to undergo extensive screening for conditions that make them ineligible d. by offering free insurance to all employees