Explicit Costs
What will be an ideal response?
Cash expenses
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If Healthy Bars agrees to sell its snack bars to a large grocery chain on the contractual condition that the grocery chain does not sell any of Healthy Bars' competitors' snack bars, this is an example of ________.
A) a horizontal contract B) a tying arrangement C) a requirements contract D) an exclusive dealing contract
In the market for education, the ever-increasing faculty salaries and costs of using technology in learning are blamed for increases in tuition fees. On the basis of this argument, which of the following statements is true? a. Tuition fees increase due to an increase in demand for education
b. Tuition fees increase due to a decrease in demand for education. c. Tuition fees increase due to an increase in the supply of education facilities. d. Tuition fees increase due to an increase in the rate of interest on education loans.
Which of the following is the most likely outcome of minimum wage laws?
a. an increase in both the quantity of labor supplied by workers and the quantity of labor demanded by firms b. an increase in the quantity of labor supplied by workers and a decrease in the quantity of labor demanded by firms c. a decrease in the quantity of labor supplied by workers and an increase in the quantity of labor demanded by firms d. a decrease in both the quantity of labor supplied by workers and the quantity of labor demanded by firms
From 1990 to the year 2000, real federal spending rose about 21 percent, while from 2000 to 2010, real federal spending rose by about
a. 17 percent. b. 30 percent. c. 59 percent. d. 112 percent.