You and your roommate go to a Sunday brunch at the local restaurant. All you can eat for $4.95. You enjoyed your meal. Your roommate didn't care for it at all. Each of you paid your bill in full. Who incurred a sunk cost?
A) Both you and your roommate
B) Only you
C) Only your roommate
D) Neither of you
A
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What will be an ideal response?
The argument that the government should impose tariffs in order to protect domestic jobs ignores the impact of tariff policy on
a. domestic industries that compete with imports. b. the country’s export-producing industries. c. employees in domestic industries that compete with imports. d. suppliers to domestic industries that compete with imports.
What has been the trend in eliminating poverty since 1960?
Which of the following statements is correct?
a. For most producers, the average total cost curve never crosses the marginal cost curve. b. The average fixed cost curve must eventually rise. c. The average total cost curve first rises, then falls with increased output. d. The marginal cost curve eventually rises with the quantity of output.