This profit-maximizing firm is making a profit or loss of about ________.
A. $200
B. $280
C. $400
D. -$280
C. $400
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What effect would each of the following government actions have on the steady-state growth rate of the standard of living? a. a decrease in income tax rates b. a doubling of the capital gains tax c. a growing budget deficit d
an increase in funding for research and development at public universities
Refer to the table below. If the attorney reviews 51 patents, what is the expected marginal benefit of reviewing the 51st patent?
The above below shows the quantity of patents reviewed by a firm's attorney and the corresponding probability that the firm will infringe on another firm's patent. The cost of infringement is $50,000.
A) -$40,000
B) $4,000
C) -$4,000
D) $40,000
The Lorenz curve shows the
a. percent of families on the vertical axis and percent of income on the horizontal axis. b. percent of families on the horizontal axis and the cumulative percent of income on the vertical axis. c. cumulative percent of income on the vertical axis and the cumulative percent of families on the horizontal axis. d. cumulative percent of families on the vertical axis and the cumulative percent of income on the horizontal axis.
In recent years, the number of farms has fallen while the average farm size has increased. What concept may explain this phenomenon?
a. diminishing marginal returns b. declining productivity c. diseconomies of scale d. economies of scale e. good weather in midwestern states