From the highest to the lowest, the percentage of profits earned by businesses in the United States is represented by which of the following?
A) sole proprietorships, partnerships, corporations
B) partnerships, corporations, sole proprietorships
C) corporations, partnerships, sole proprietorships
D) corporations, sole proprietorships, partnerships
Answer: C
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Hilda buys only cauliflower, Qc, and geraniums, Qg. The equation for Hilda's initial budget line is $40 = $2 × Qc + $4 × Qg
If Hilda's income increases by $20, the price of cauliflower decreases by $1, and the price of geraniums increases by $1, the equation of her new budget line is ________. A) $60 = $1 × Qc + $5 × Qg B) $60 + $1 × Qc = $5 × Qg C) $0 = $60 + $1 × Qc + $5 × Qg D) $60 = $5 × Qc - $1 × Qg
Firms choose the highest indifference curve they can obtain given the lowest possible budget line
a. True b. False Indicate whether the statement is true or false
According to the No Marginal Improvement Principle for Boundary Choices, if X* is a best choice, then:
A. if only a marginal increase in the activity level is possible, the MB ? MC at X*. B. if only a marginal increase in the activity level is possible, the MB ? MC at X*. C. if only a marginal decrease in the activity level is possible, the MB ? MC at X*. D. MB = MC at X*.
If the supply and demand curves cross at a price of $2, at any price above that, there will be
A. an equilibrium. B. a crisis. C. a surplus. D. a shortage.