Refer to the table above. When does diminishing marginal returns to capital set in?
A) When the second machine is used
B) When the third machine is used
C) When the fourth machine is used
D) When the fifth machine is used
C
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Your friend has just received a new book he ordered and you want to borrow it. Your friend values reading the book at $10, while you are willing to pay a maximum amount of $15 to read it
a) What is the equilibrium outcome in this case? b) Will the outcome be any different if you own a book that your friend wants to read? Assume that the value that each of you places on this book is the same as that you placed on the previous book.
Currently about what percentage of the civilian labor force is unionized in the United States?
A) 6 percent B) 12 percent C) 30 percent D) 70 percent
Which of the following is the most fundamental function of government?
a. protection of individuals and their property b. imposing progressive taxes to fund income-transfer programs c. regulating prices and wages d. provision of postal services and garbage collection
PriceQuantity DemandedQuantity Supplied$02000$115040$210080$350120$40160 Refer to the table. If the current price in this market is $2 then there is
A. excess demand and pressure on the price to fall. B. excess demand and pressure on the price to rise. C. excess supply and pressure on the price to rise. D. excess supply and pressure on the price to fall.