Refer to the table below. According to the table, Julia has the absolute advantage in: Time to Make a PieTime to Make a CakeMartha60 minutes80 minutesJulia50 minutes60 minutes
A. pies.
B. cakes.
C. neither pies nor cakes.
D. both pies and cakes.
Answer: D
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Quick Buck and Pushy Sales produce and sell identical products and face zero marginal and average cost. Below is the market demand curve for their product. 
Suppose Quick Buck and Pushy Sales decide to collude and work together as a monopolist with each firm producing half the quantity demanded by the market at the monopoly price. If Quick Buck cheats by reducing its price to $1 while Pushy Sales continues to comply with the collusive agreement, then Quick Buck's economic profit will be ________.
A. $2,000 B. $4,000 C. $6,000 D. $3,000
Which of the following changes shifts the AD curve down and to the left?
A) A temporary increase in government purchases B) A rise in the nominal money supply C) A decrease in corporate taxes D) A decrease in consumer confidence
The quantity of labor an individual supplies to any market
a. always increases as the market wage rate rises b. is contingent upon the wage rates offered in other labor markets c. always decreases as the market wage rate rises d. could never be zero over the realistic range of wage rates e. depends only on the opportunity cost of the individual's time in other labor markets
The benefit (or satisfaction) that an individual expects to derive from an activity is called...
What will be an ideal response?