If all of the returns to a resource are in the form of economic rent,
a. the demand curve for that resource must be horizontal
b. the demand curve for that resource must be vertical
c. the supply curve of that resource must be horizontal
d. the supply curve of that resource must be vertical
e. the demand curve for that resource must be perfectly elastic
D
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Which of the following describes a moral hazard problem?
A) a process by which individuals have substantial resources devoted to the exchange process and need to make a profit or they will be adversely affected B) a process by which individual buyers or sellers with better information are more likely to participate in voluntary exchange C) a contractual problem that results because monopolies exist in all economies D) a post-contractual problem that may result because participants to the exchange process have information that allows them to act in an opportunistic manner
Refer to the table below. What is Crunchy Fruits total marginal cost to produce 10,500 units
Crunchy Fruits makes dried fruit snacks. Crunchy Fruits has a multi-plant firm with two production facilities. The table above summarizes the marginal cost of production at the individual plants and the corresponding quantity produced at the individual plants.
A) $.075
B) $2.25
C) $1.75
D) $1.0
Ways to "game" the budgeting process include
a. delaying sales if just short of a target b. delaying expenses if just short of a target c. accelerating sales once a target is met d. delaying expenses costs once a target is met
The four categories of investment expenditures are
a. producer’s durable equipment and software, new nonresidential structures, changes in inventories, and residential structures. b. producer’s durable equipment and software, new nonresidential structures, consumer’s durable equipment and structures, and residential structures. c. producer’s durable equipment and software, new nonresidential structures, consumer’s durable equipment and structures, and residential structures. d. consumer’s durable equipment and structures, new nonresidential structures, changes in inventories, and residential structures.