A manufacturing company is sampled from a population of manufacturing companies, and then the data on at least two employees are recorded. This is an example of:
A. ?matched pair samples.
B. ?random samples.
C. ?cluster samples.
D. ?nonrandom samples.
Answer: C
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Why do firms engage in price discrimination?
A) to decrease cost B) to increase profits C) to increase consumer surplus D) to prohibit the resale of their products
A country's factors of production include its:
a. capital. b. natural resources. c. labor, capital, and natural resources. d. labor.
Over time, the money multiplier:
A. runs counter cyclic to the business cycle. B. was relatively stable until 2008, when it rose dramatically. C. was relatively stable until 2008, when it dropped dramatically. D. has historically followed the business cycle.
Exhibit 7-12 Marginal revenue and cost per unit curves
?
If price is equal to OD for the firm shown in Exhibit 7-12, total profit is maximized when:
A. output is X. B. output is Y. C. output is Z. D. output is greater than Z.