Ziva is an organic lettuce farmer, but she also spends part of her day as a professional organizing consultant. As a consultant, Ziva helps people organize their houses. Due to the popularity of her home-organization services, Farmer Ziva has more clients requesting her services than she has time to help if she maintains her farming business. Farmer Ziva charges $25 an hour for her
home-organization services. One spring day, Ziva spends 10 hours in her fields planting $130 worth of seeds on her farm. She expects that the seeds she planted will yield $300 worth of lettuce. Ziva's accounting profit from farming equals
a. $-80.
b. $130.
c. $170.
d. $260.
c
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The Jerry-Berry Ice Cream Shoppe's total cost schedule is in the above table. Based on the table, the marginal cost of producing the fourth gallon of ice cream is
A) $2. B) $3. C) $5. D) $8. E) $32.
How do competitive firms try to achieve market power? What is one way they try to accomplish this?
What will be an ideal response?
Competition in U.S. banking has been increased by
a. the expansion of interstate banking. b. the expansion of foreign bank branches into the United States. c. the movement of brokerage houses and large corporations into traditional banking activities. d. All of these.
If the employer is only permitted to hire members of the labor union, the workplace is called a(n)
a. closed shop b. collective shop c. agency shop d. union shop e. open shop