In the table above, what is the maximum amount of output that can be produced with two workers?
A. 125
B. 50
C. 250
D. 150
E. 320
Answer: C
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Refer to Table 1-2. Using marginal analysis, by how many hours should Thuy Anh extend her flower shop's hours of operations?
A) 2 hours B) 3 hours C) 4 hours D) 5 hours E) 6 hours
Gross private domestic investment does not include:
a. spending for new houses. b. spending to build up inventories. c. unintentional inventory investment. d. spending on employee salaries. e. spending for office supplies.
How does monopsony power evolve? What factors might aid its continued presence?
Suppose ABC Dairy is one firm competing in the perfectly competitive market for milk. Now suppose ABC Dairy decides to produce only organic milk. Which of the following best describes the effects of this change in the market?
A. ABC Dairy is differentiating its product and will likely be able to charge a higher price than before. B. ABC Dairy will still be a price taker because it is still operating in a perfectly competitive market. C. ABC Dairy will have a monopoly on organic milk due to very high entry barriers. D. The other dairy firms will produce with excess capacity, but ABC Dairy will be efficient.