What might cause economies of scale?
specialization of labor
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Because of the kind of externalities that tend to be generated from general R&D resources bought by firms, the equilibrium price of R&D
A) is above the optimal level, and quantity is below the optimal level. B) is below the optimal level, and quantity is above the optimal level. C) and quantity of R&D are both above the optimal level. D) and quantity of R&D are both below the optimal level. E) must fall in order for the market to reach equilibrium.
If Sam Sneed desires a loan from the Marshall National Bank but the bank only has its legally required reserves on hand, then
a. Sam must go to another bank for his loan b. the Marshall National Bank can borrow directly from a state-chartered bank c. the Marshall National Bank cannot grant the loan because it is state chartered d. the Marshall National Bank can reduce its reserves e. the Marshall National Bank can borrow from its district Federal Reserve Bank
A firm pays Pam $40 per hour to assemble personal computers. Each day, Pam can assemble 4 computers if she works 1 hour, 7 computers if she works 2 hours, 9 computers if she works 3 hours, and 10 computers if she works 4 hours. Pam cannot work more than 4 hours day. Each computer consists of a motherboard, a hard drive, a case, a monitor, a keyboard, and a mouse. The total cost of these parts is $600 per computer. What is the marginal cost of producing the computers that Pam can assemble during her 3rd hour of work?
A. $5,520 B. $1,200 C. $1,240 D. $5,400
The basic liberal solution to welfare dependency is __________.
Fill in the blank(s) with the appropriate word(s).