Use the above table. Based on the information in the table, artisan bread is a(n)
A) normal good.
B) necessary good.
C) inferior good.
D) negative good.
A
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Producer surplus is the ________ summed over the quantity produced
A) price of the good minus the marginal cost of producing it B) marginal benefit of the good minus its marginal cost C) marginal benefit of the good minus its price D) marginal cost of the good minus the opportunity cost of producing it E) None of the above answers is correct.
Debt needs to be judged relative to assets because:
A. private investment is always more productive than government investment. B. assets can increase the ability of a country to repay a debt. C. assets are always depreciating. D. all assets provide interest payments to pay the debt.
“Discrimination based on gender may cause a regrettable redistribution of income in favor of males and at the expense of females, but it entails no loss to society as a whole.” Evaluate
What will be an ideal response?
A shift in union labor demand from D 1 to D 2 in the diagram might be the result of:
A. a refusal by union members to buy the product they are producing.
B. an increase in tariffs on products competing with those produced by relevant union workers.
C. increases in the prices of complementary inputs.
D. a strike (work stoppage) by the union.