Suppose a publisher faces the following costs of producing 10,000 newspapers each month: $5,500 cost of labor; $2,200 monthly mortgage payment; $250 cost of electricity to run the printing presses; $800 for ink and paper; and $200 in city property taxes (based on the value of the building and land). Its total variable costs are:
A. $8,950.
B. $8,750.
C. $6,550.
D. $6,300.
Answer: C
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When a person receives a flu vaccination, the ________ is the additional benefit the person receives from getting the shot
A) marginal private benefit B) marginal external benefit C) marginal social benefit D) marginal social cost E) marginal external cost
The _____ of using the market for corporate control make it important to build incentives into executive pay packages that can reduce _____ by better aligning the incentives of shareholders and managers
a. benefits; principal/agent problems b. costs and uncertainties; principal/agent problems c. benefits; influence costs d. costs and uncertainties; influence costs
The demand curve facing a perfectly competitive firm is:
a. downward sloping. b. upward sloping. c. vertical. d. horizontal.
A profit-maximizing firm will continue to employ land until
A. MRPLAND = MPLAND. B. MRPLAND = 0. C. MRPLAND = PLAND. D. MPLAND = PLAND.