When Fresh Express Salads decides to mechanically pick all of its lettuce, it directly answers the ________ question
A) what
B) how
C) for whom
D) where
E) when
B
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In the above figure, if the market produces the efficient amount of purses then producer surplus equals triangle
A) abc. B) bcd. C) adc. D) dce.
Refer to the table below. Suppose the profit for each unit of paper product is $3.00 and the profit for each unit of lumber is $13.50 and Big Oaks is producing the profit-maximizing quantity of lumber and paper products. If the profit from each unit of lumber increases from $13.50 to $15.00 and the profit for each unit of paper products does not change, to maximize profit, Big Oaks should produce
a ________ proportion of lumber and produce ________ units of paper products and lumber.
Big Oaks can produce either paper products or lumber with each tree that they harvest. Because Big Oaks can adjust the amount of paper products and lumber they produce from the harvested trees, paper products and lumber are produced in variable proportions. The above table summarizes Big Oaks production possibilities from each harvested tree.
A) smaller; less
B) smaller; more
C) greater; more
D) greater; less
Jim has a choice between two jobs. Job A would pay him $15 an hour with certainty, and the job B is commission based where he could earn $12, with a 50% probability and $18 with a 50% probability. Which job would he choose?
a. Job A b. Job B c. Neither of the jobs d. He would choose to exit the labor market
Moral hazard:
A. is about the unobserved actions of people. B. is about the unobserved characteristics of people. C. occurs before the parties have entered into an agreement. D. None of these statements is true.