Refer to the table below. ________ has the comparative advantage in making pizza, and ________ has the comparative advantage in delivering pizza. Pizzas MadePer HourPizzasDeliveredPer HourCorey126Pat1015
A. Pat; Pat
B. Corey; Pat
C. Pat; Corey
D. Corey; Corey
Answer: B
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If a horizontal merger lowers the cost of production and increases the total surplus in the market, which of the following is also likely to have occurred?
A) The producer surplus decreased. B) The consumer surplus increased. C) The consumer surplus decreased. D) The producer surplus did not change.
The two primary factors determining monopoly market power are the firm's: a. revenue and the size of its customer base
b. variable cost curve and fixed cost structure. c. demand curve and cost structure. d. demand curve and the level of wealth within its market.
Within the Keynesian model, if the marginal propensity to consume is 0.8, which of the following is true?
a. When consumption increases by $5, income increases by $1. b. When consumption increases by $1, saving increases by $5. c. When investment increases by $1, income increases by $5. d. When investment increases by $1, saving increases by $5.
Increases in capital stock are due to
A. increasing productivity. B. labor saving technology. C. investment. D. depreciation.