The above figures show the market for hamburger meat. Which figure shows the effect of a newly invented machine which grinds beef at twice the speed previously possible?
A) Figure A
B) Figure B
C) Figure C
D) Figure D
D
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A nonmonetary opportunity cost is called a(n) ________, while a cost that involves spending money is called a(n) ________
A) implicit cost; explicit cost B) normal rate of return; asset C) accounting profit; economic profit D) accounting cost; explicit cost
If the demand curve for comic books is expressed as Q = 10,000/p, then demand has a unitary elasticity
A) only when p = 10,000. B) only when p = 100. C) always. D) never.
Usually, increased government spending for war increases inflationary pressures. The principal reason that inflation occurred during the Vietnam War and not during World War II was the existence, during World War II, of
a. full employment. b. government ownership of factories. c. full production. d. wage and price controls. e. high levels of patriotism.
Miniville is an isolated town located on the southern shore of Lake Condescending, a very large lake. The western edge of Miniville is adjacent to impassable mountains and there are no towns or businesses for many miles to the east. The 300 residents of Miniville are evenly distributed along 3 miles of shoreline on the lake, east of the mountains. Lake Shore Drive, the only street in town, provides access to Miniville's homes and businesses. All residents live between the lake and the street; businesses locate on the other side of the street. Lake Shore Drive is 3 miles long, and the points labeled A, B, and C are 1, 2, and 3 miles from the western end of Lake Shore Drive, respectively. All residents of Miniville shop at the store located closest to their homes. src="https://sciemce.com/media/4/ppg__1420829190927__f1q534g1.jpg" alt="" style="vertical-align: 0.0px;" height="94" width="384" /> If one store is located at A and the other store is located at C:
A. 100 people will shop at the store at A, and 200 people will shop at the store at C.
B. 100 people will certainly shop at each store, but where the other 100 will shop is indeterminant.
C. 150 people will shop at each store.
D. 200 people will shop at the store at A, and 100 people will shop at the store at C.