If pollutants from smoke stacks in a city such as Newark causes people to paint their homes and cars more frequently, this implies
A) external benefits to the home and car owners.
B) external costs on home and car owners.
C) internal cost to home and car owners.
D) none of the above.
Answer: B
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Using the data in the above table, which worker at Jefferson's Cleaners has the highest marginal product?
A) the second B) the third C) the fourth D) the fifth
When firms price their products by adding a percentage markup to their average costs of production, this is called
A) cost-plus pricing. B) rounding up. C) break-even pricing. D) average cost pricing.
Which of the following formulas is not correct?
a. ATC = AVC + (TFC/Q) b. TVC = TC/Q c. TC = TFC + TVC d. AFC = TFC/Q e. TVC = AVC ? Q
The majority of American's trade deficit with China has been caused by
A. unfair competition. B. excessive spending and inadequate savings in America. C. cheap labor. D. American investment in China.