Suppose a jar of DeLux popcorn that is ultimately sold to a customer at Friendly Groceries is produced by the following production process: Name of CompanyRevenuesCost of Purchased InputsFulton Family Farm$0.500DeLux Popcorn Co.$2.50$0.50Friendly Groceries$4.00$2.50 What is the value added of DeLux Popcorn Co.?
A. $0.50
B. $2.00
C. $1.50
D. $2.50
Answer: B
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Use the following table to answer this question, which provides information on the production of a product that requires one variable input.InputTotal Product00102002060030720408205090060980The marginal product of the 40th input item is
A. 100. B. 10. C. 20.5. D. 80.
Which of the following are considered sources of bias in the CPI?
a. Prices changing too rapidly; substitution, new technologies; and quality changes. b. Prices changing too rapidly; substitution; quality changes; and growth in discounting. c. Quality changes; new technologies; prices changing too rapidly; and growth in discounting. d. Substitution; new technologies; prices changing too rapidly; and growth in discounting. e. Quality changes; new technologies; substitution; and growth in discounting.
Explain the three different types of money demand.
What will be an ideal response?
A good is ______, when a seller can prevent people who did not pay for a product from obtaining its benefits.
Fill in the blank(s) with correct word