Which of the following goods probably has the highest price elasticity of supply?
a) antique chairs
b) baseball stadiums
c) golf courses
d) blue pencils
d) blue pencils
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Blowdryer businessman Max Power is starting a new hairdryer business. Max estimates his production function to be q = KL0.5. Max has 60 units of capital (K = 60 ). Derive Max's MP and AP of labor for the current level of capital
What will be an ideal response?
According to the graph shown, the monopolistically competitive firm will produce:
These are the cost and revenue curves associated with a monopolistically competitive firm.
A. where MR = MC and will charge according to ATC.
B. where MR = MC and will charge according to D.
C. where D = MC and will charge according to MR.
D. where D = MC and will charge according to ATC.
Involuntary exchanges, such as robbery,
a. represent potential Pareto improvements b. are positive externalities c. are not Pareto improvements d. are antitrust violations e. may be Pareto improvements
With fixed exchange rates and capital mobility:
a. interest rates in the home country and in foreign countries are equalized. b. interest rates in the home country are higher. c. interest rates in foreign countries are higher. d. monetary policy maintains its autonomy.