Refer to the information. The marginal cost of the third unit of output is:
The Sunshine Corporation finds that its costs are $40 when it produces no output. Its total variable costs (TVC) change with output as shown in the accompanying table. Use this information to answer the following question.
A. $105.
B. $25.
C. $15.
D. $20.
C. $15.
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Jennifer lives in two periods. In the first period, her income is fixed at $72,000; in the second, she is gets a 4% raise in her income. She can borrow and save at the market interest rate of 5 percent.
(A) Sketch her intertemporal budget constraint. (B) Suppose that Jennifer is unable to lend at any rate of interest, although she can still borrow at 5 percent. Sketch her new intertemporal budget constraint.
The U.S. economy is relatively closed in terms of economic activity related to exports and imports
a. True b. False Indicate whether the statement is true or false
Discuss the controversy surrounding affirmative action. How does this controversy illustrate the trade-off between equality and efficiency?
Read Application 14.1 carefully. The United States compares very unfavorably to Japan in life expectancy. In the United? States, average life expectancy at birth is less than 79? years; in? Japan, life expectancy is almost 83 years.? However, the United States spends? 250% more on health care per person than Japan does. Are these numbers evidence of the superior? cost-effectiveness of the Japanese health care? system?
A. ?Yes, if the Japanese live longer and spend less on health? care, it must have a more? cost-effective health care system. B. ?Yes, the Japanese make better behavioral? choices, which implies a? better, more? cost-effective health care system. C. ?No, the U.S. obesity rate is higher than? Japan's, which can drive up health care costs and drag down life expectancy. D. ?Uncertain, as more information is required to assess the? cost-effectiveness of? Japan's health care system.