In the figure above, which of the following transactions take place in the factor markets?
i. Michael, a student, orders a computer from Dell online.
ii. Peter gets a job at a Wal-Mart store.
iii. Apple Computer opens a new store in Georgia
A) ii and iii
B) only i
C) only ii
D) only iii
E) i and ii
A
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A local pizzeria raised its price from $9 to $11 for each pizza and the sales of its pizza decreased from 150 to 100 per day. What is the price elasticity of demand in this case?
A) 1/2 B) -2 C) -1/2 D) 2
Refer to Figure 16-6. If Sensei acts as a monopolist, his profit-maximizing price is ________ and the number of classes sold is ________
A) P1; Q1 B) P0; Q1 C) P0; Q0 D) P1; Q0
Which of the following is NOT identified by your text as a challenge to doing business in China?
A) Issues related to the business climate, such as taxes B) The availability of credit C) Licensing requirements D) Failure to protect intellectual property E) Poor infrastructure and port facilities to support export of products
All Pittsburgh police officers must go through the same training program, but police officers assigned to the narcotics squad earn 10% more than police officers assigned to guard the city courthouse. This 10% difference in pay is an example of a
A. utility differential. B. human capital differential. C. compensating differential. D. transfer payment.