Economics
58545 questions • Page 1028 / 1171
When a firm expands output from 10 to II units and total revenue increases from
When a firm expands output from 10 to II units and total revenue increases from $100 to $110, revenue of the eleventh unit Is: $110. $11. $10. Haircuts for men are often cheaper t…
When a firm is a small input buyer its supply curve for the input is essentially
When a firm is a small input buyer its supply curve for the input is essentially: its marginal resource cost curve for the input. set at the input price. perfectly elastic all of …
When a firm is making a normal economic profit... A.) economic profit is equal t
When a firm is making a normal economic profit... A.) economic profit is equal to zero B.) economic profit is greater than zero C.) business profit is zero D.) business profit is …
When a firm produces an information product the initial or fixed costs are . Con
When a firm produces an information product the initial or fixed costs are . Consequently the average fixed cost and average total cost as the volume of output increases. Since mo…
When a firm wants to expand, how does it decide on how much of each of its input
When a firm wants to expand, how does it decide on how much of each of its inputs to increase? Does it make sense to only increase one of its inputs? What happens when the price o…
When a good is rival in consumption: one person\'s consumption prevents or decre
When a good is rival in consumption: one person's consumption prevents or decreases others' ability to consume it. it is possible for sellers to prevent its use by those who have …
When a government bond matures, the governments has to pay it back with the prom
When a government bond matures, the governments has to pay it back with the promised interest payments. There are different kinds of government securities based on different matur…
When a government or corporation sells bonds to raise money, it can do so in one
When a government or corporation sells bonds to raise money, it can do so in one of two ways. It can target a certain amount to raise or it can target a certain amount to pay back…
When a household owns shares of stock, _____. it has ownership rights in that fi
When a household owns shares of stock, _____. it has ownership rights in that firm it is entitled to the majority of the firm’s profits it is liable to bear the entire loss faced …
When a market is in equilibrium, there is no consumer surplus. We know this beca
When a market is in equilibrium, there is no consumer surplus. We know this because in equilibrium, the market price is equal to the price consumers are willing to pay for the goo…
When a monopolist increases the number of units it sell, thereare two effects on
When a monopolist increases the number of units it sell, thereare two effects on revenue. a. demand effect and the supply effect. b.competition effect and the cost effect. c.compe…
When a monopolistically competitive firm raises its price, Answer quantity deman
When a monopolistically competitive firm raises its price, Answer quantity demanded falls to zero. quantity demanded declines but not to zero. the market supply curve shifts outwa…
When a nation imports a good at a world price below the home country\'s equilibr
When a nation imports a good at a world price below the home country's equilibrium price for that good and then imposes a tariff on the import, what happens to the quantity import…
When a nation imports a good at a world price below the home country\'s equilibr
When a nation imports a good at a world price below the home country's equilibrium price for that good and then imposes a tariff on the import, what happens to the quantity suppli…
When a new pest destroys the coffee trees in Latin America, which of the followi
When a new pest destroys the coffee trees in Latin America, which of the following is correct? The demand for coffee increases, the price of coffee increases, more coffee will be …
When a nightclub advertises “ladies night” and allows women to enter the club wi
When a nightclub advertises “ladies night” and allows women to enter the club without a cover charge (whereas men are still required to pay an entrance fee), the club is charging …
When a perfectly competitive firm is in long-run equilibrium, the firm is: A) pr
When a perfectly competitive firm is in long-run equilibrium, the firm is: A) producing at maximum average total cost. B) producing at maximum average variable cost. C) producing …
When a perfectly competitive firm produces eight units of output, it receives to
When a perfectly competitive firm produces eight units of output, it receives total revenue of dollar 200. The price per unit is smallcircle dollar 25. smallcircle less than dolla…
When a person or persons create media that contains scenes of violence, they rar
When a person or persons create media that contains scenes of violence, they rarely, if ever, have the intent of, “I sure hope someone who interacts with my work commits violent a…
When a print newspaper initiates an online version of its newspaper, what are th
When a print newspaper initiates an online version of its newspaper, what are the possible outcomes for its current display advertiser? Are they likely to prefer one channel over …
When a professional is sent on a foreign assignment on behalf of an American com
When a professional is sent on a foreign assignment on behalf of an American company, that expatriate's wife or husband is known as the "trailing spouse&a…
When a profit-maximizing firm in a monopolistically competitive market charges a
When a profit-maximizing firm in a monopolistically competitive market charges a price higher than marginal cost, The firm must be earning a positive economic profit New firms wil…
When a project has multiple internal rates of return (IRRs): the analyst should
When a project has multiple internal rates of return (IRRs): the analyst should choose the highest IRR to compare with the firm's required rate of return (discount rate). the anal…
When a quota system is imposed on used cars market (which means to buy a used ca
When a quota system is imposed on used cars market (which means to buy a used car, you must obtain a Quota first), which of the following models of cars is most likely to disappea…
When a recession is caused by a real shock, an expansionary fiscal policy will r
When a recession is caused by a real shock, an expansionary fiscal policy will result in an increase in: Select one: a. the unemployment rate. b. the inflation rate which is highe…
When a resource is scarce relative to the amount that will be demanded over time
When a resource is scarce relative to the amount that will be demanded over time, economic efficiency 1. requires that equal amounts of the commodity will be produced and consumed…
When a rival firm cuts its price, the best strategic response of the firm, in ma
When a rival firm cuts its price, the best strategic response of the firm, in many cases, is to retaliate with a price cut of its own. However, successive repetitions of price cut…
When a sports team hires an expensive new player or builds a new stadium, you of
When a sports team hires an expensive new player or builds a new stadium, you often hear claims that ticket prices have to rise to cover the new, higher cost. Let’s see what monop…
When a tax is levied on a good, the buyers and sellers of the good share the bur
When a tax is levied on a good, the buyers and sellers of the good share the burden, provided the tax is levied on the sellers. provided the tax is levied on the buyers. provided …
When a tax is placed on the sellers of a product, buyers pay more, and sellers r
When a tax is placed on the sellers of a product, buyers pay more, and sellers receive more than they did before the tax l more, and sellers receive less than they did before the …
When a worker announces that he plans to quit, say next month, the \"threat\" of
When a worker announces that he plans to quit, say next month, the "threat" of being fired has no bite. The worker may find it in his interest to shirk. What can the manager do to…
When a worker specializes in one task, he focuses on that one function in the pr
When a worker specializes in one task, he focuses on that one function in the production process, ignoring the whole system. This is likely to: A. increase the cross-training cost…
When abdominoplasty costs were $6,000, Dr. Hurwitz treated 300 patients. When th
When abdominoplasty costs were $6,000, Dr. Hurwitz treated 300 patients. When they dropped the price to $5,000, customers increased to 400. What is the elasticity of demand for ab…
When all the factors of aggregate expenditure are influenced by income, the mult
When all the factors of aggregate expenditure are influenced by income, the multiplier becomes a function of the: marginal propensity of government purchases. marginal propensity …
When an economy relies on specialization: a-) Trade is established according to
When an economy relies on specialization: a-) Trade is established according to the value of the specialized product b-) Centralized coordination is needed to ensure that everyone…
When an economy sacrifices production of consumption goods to produce more capit
When an economy sacrifices production of consumption goods to produce more capital goods, we would expect that the production possibilities curve will shift outward shift inward b…
When an individual or firm in the United States requests that a bank sell foreig
When an individual or firm in the United States requests that a bank sell foreign exchange, the bank will probably A) call a foreign exchange broker and arrange a purchase. B) cal…
When an oligopoly market reaches a Nash equilibrium. a.the market price will be
When an oligopoly market reaches a Nash equilibrium. a.the market price will be different for each firm b.the firms will not have behaved as profitmaximizers. c.a firm will have c…
When analyzing these policies, include some discussion of the following points w
When analyzing these policies, include some discussion of the following points when appropriate: What is the purpose of the policy? Why is the policy necessary? The welfare of con…
When architects design structures, they must also bear in mind also the costs as
When architects design structures, they must also bear in mind also the costs associated with each design. Suppose the cost functions for building highrise apartments is tied not …
When asked in a television interview what he felt he was missing out on because
When asked in a television interview what he felt he was missing out on because he spent most of his time training for the Olympics, the rower answered, “A normal social life.” He…
When asked in a television interview what she felt she was missing out on becaus
When asked in a television interview what she felt she was missing out on because she spent most of her time training for the Olympics, a rower answered, “A normal social life.” S…
When asked in a television interview what she felt she was missing out on becaus
When asked in a television interview what she felt she was missing out on because she spent most of her time training for the Olympics, a rower answered, “A normal social life.” S…
When asked in a television interview what she felt she was missing out on becaus
When asked in a television interview what she felt she was missing out on because she spent most of her time training for the Olympics, a rower answered, “A normal social life.” S…
When asked in a television interview what she felt she was missing out on becaus
When asked in a television interview what she felt she was missing out on because she spent most of her time training for the Olympics, a rower answered, “A normal social life.” S…
When asked in a television interview what she felt she was missing out on becaus
When asked in a television interview what she felt she was missing out on because she spent most of her time training for the Olympics, a rower answered, “A normal social life.” S…
When baseball player Mr. X was able to renegotiate his contract, he was able to
When baseball player Mr. X was able to renegotiate his contract, he was able to double his previous salary. This allowed him to get a very good policy - one with a 1% copay and de…
When baseball player Mr. X was able to renegotiate his contract, he was able to
When baseball player Mr. X was able to renegotiate his contract, he was able to double his previous salary. This allowed him to get a very good policy - one with a 1% copay and de…
When calculating the net present value of an investment project. the firm of Hen
When calculating the net present value of an investment project. the firm of Henry & Norman expects profit in the first year to be dollar 50,000. and they expect real profits …
When capitalism is criticized, it is usually critirized for. a. Not producing en
When capitalism is criticized, it is usually critirized for. a. Not producing enough wealth. b. Producing too much wealth c. Not distributing wealth equally or fairly enough. d. G…
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