Given the information in the table shown, what is the market price?
This table shows price and quantity produced for a single firm in a perfectly competitive market.
A. $20
B. $10
C. $2
D. $260
B. $10
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People who disagree vehemently about whether or not it is efficient to clear-cut forests or strip-mine for coal are basically disagreeing about
A) the importance of material wealth. B) the importance of the economy. C) the proper relationship of human beings to the natural world. D) who should have which rights.
Private ownership will lead to better incentives and better social decisions in a regulated firm
Indicate whether the statement is true or false
The marginal utilities associated with the first 4 units of consumption of good Y are 10, 12, 9, and 7, respectively. What is the total utility associated with the third unit?
a. 3. b. 9. c. 25. d. 31. e. The amount cannot be determined from the marginal utilities.
Which of the following is an example of cyclical unemployment?
A. Dora lost her job when the textile factory closed. She does not have skills to work in another industry and has been unemployed for over a year. B. Jim had a job as an engineer, but quit when his wife was transferred to another state. He looked for a month before finding a new job that he liked. C. George is an unskilled worker who mows lawns in the summer, but is unemployed the rest of the year. D. Marsha was laid off from her job with the airline because the recession reduced demand for airline travel. She expects to get her job back when the economy picks up.