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External link to Question : 11.1   What Is Money? 1) Which statement about money most correct? : 1238033
Economics

Question : 11.1   What Is Money? 1) Which statement about money most correct? : 1238033

  11.1   What Is Money? 1) Which statement about money is most correct? A) Money is a new invention and only includes dollar bills and coins. B) Money is a new invention and can include anything that is accepted as a means of payment. C) Money has been around for a long time and can include anything that is accepted as a means of payment. […]

External link to Question : 96.Brislin Gifts makes ceramic mugs and has the following amounts : 1302752
Economics

Question : 96.Brislin Gifts makes ceramic mugs and has the following amounts : 1302752

    96.Brislin Gifts makes ceramic mugs and has the following amounts during 2014 (Assume the same unit costs in all years):   Selling price$9.00 per mug Variable production cost$2.50 per mug Variable selling cost$1.10 per mug Fixed production cost$100,000 per month Fixed selling and administrative cost $60,000 per month   Production and sales in units for the first three months of 2014 are as […]

External link to Question : 51.Which of the following an example of a first-mover advantage? A. The : 1299437
Economics

Question : 51.Which of the following an example of a first-mover advantage? A. The : 1299437

  51.Which of the following is an example of a first-mover advantage?   A. The ability to capture demand by establishing a strong brand name B. The avoidance of pioneering costs that a later entrant has to bear C. The increased probability of surviving in a foreign market D. The opportunity to observe and learn from the mistakes of later entrants E. The ability to let later entrants ride ahead on the […]

External link to Question : 21.When someone’s willingness to pay the same as the actual : 1379022
Economics

Question : 21.When someone’s willingness to pay the same as the actual : 1379022

    21.When someone’s willingness to pay is the same as the actual price paid for an item: A. the individual will not purchase the item. B. the individual’s surplus is zero. C. surplus cannot be maximized. D. All of these are true. 22.When Bob’s willingness to pay for a cup of coffee is $1, and the price of a cup of coffee is $1: A. Bob is indifferent about […]

External link to Question : 1) A tax that takes a higher percentage of income : 1384329
Economics

Question : 1) A tax that takes a higher percentage of income : 1384329

  1) A tax that takes a higher percentage of income as income rises is called a(n) A) proportional tax. B) regressive tax. C) progressive tax. D) excise tax. E) value-added tax. 2) The sometimes proposed “flat tax,” such as one that takes 15% of income at all levels of income, is an example of a(n) A) proportional tax. B) regressive tax. C) progressive tax. […]

External link to Question : Figure 3-7 28) Refer to Figure 3-7.  Assume that the graphs : 1387408
Economics

Question : Figure 3-7 28) Refer to Figure 3-7.  Assume that the graphs : 1387408

  Figure 3-7     28) Refer to Figure 3-7.  Assume that the graphs in this figure represent the demand and supply curves for frozen yogurt. Which panel describes what happens in the market for frozen yogurt when the price of ice cream, a substitute product, increases? A) Panel (a) B) Panel (b) C) Panel (c) D) Panel (d)     29) Refer to Figure […]

External link to Question : 11) The value of the four-firm concentration ratio that many : 1244651
Economics

Question : 11) The value of the four-firm concentration ratio that many : 1244651

    11) The value of the four-firm concentration ratio that many economists consider indicative of the existence of an oligopoly in a particular industry is A) anything greater than 10 percent. B) anything greater than 20 percent. C) anything greater than 30 percent. D) anything greater than 40 percent.   12) Which of the following is not a shortcoming of the concentration ratio as […]

External link to Question : 4.4   Integrative Questions 1) Consider the market for bread. If the : 1226422
Economics

Question : 4.4   Integrative Questions 1) Consider the market for bread. If the : 1226422

  4.4   Integrative Questions   1) Consider the market for bread. If the price of wheat rises, then the A) demand curve for bread shifts leftward. B) supply curve of bread shifts leftward. C) price of bread falls. D) equilibrium quantity of bread increases. E) demand curve for bread shifts rightward.   2) Consider the market for turkeys. In the United States, because of Thanksgiving […]

External link to Question : 61.Ifthecross-priceelasticityofdemandfortwogoodsis1.25,then a.thetwogoodsareluxuries. b.thetwogoodsaresubstitutes. c.oneofthegoodsisnormalandtheothergoodisinferior. : 1262389
Economics

Question : 61.Ifthecross-priceelasticityofdemandfortwogoodsis1.25,then a.thetwogoodsareluxuries. b.thetwogoodsaresubstitutes. c.oneofthegoodsisnormalandtheothergoodisinferior. : 1262389

  61.Ifthecross-priceelasticityofdemandfortwogoodsis1.25,then a.thetwogoodsareluxuries. b.thetwogoodsaresubstitutes. c.oneofthegoodsisnormalandtheothergoodisinferior. d.thedemandforoneofthegoodsconformstothelawofdemand,butthedemandfortheothergoodviolatesthelawofdemand. 62.Ifthecross-priceelasticityofdemandfortwogoodsis-4.5,then a.thetwogoodsaresubstitutes. b.thetwogoodsarecomplements. c.oneofthegoodsisnormalwhiletheothergoodisinferior. d.oneofthegoodsisaluxurywhiletheothergoodisanecessity. 63.SupposethatwhenthepriceofgoodXincreasesfrom$800to$850,thequantitydemandedofgoodYincreasesfrom65to70.Usingthemidpointmethod,thecrosspriceelasticityofdemandisabout a.-1.2,andXandYarecomplements. b.-0.1,andXandYarecomplements. c.0.1,andXandYaresubstitutes. d.1.2,andXandYaresubstitutes. 64.Lastmonth,sellersofgoodYtookin$100intotalrevenueonsalesof50unitsofgoodY.ThismonthsellersofgoodYraisedtheirpriceandtookin$120intotalrevenueonsalesof40unitsofgoodY.Atthesametime,thepriceofgoodXstayedthesame,butsalesofgoodXincreasedfrom20unitsto40units.WecanconcludethatgoodsXandYare a.substitutes,andhaveacross-priceelasticityof0.60. b.complements,andhaveacross-priceelasticityof-0.60. c.substitutes,andhaveacross-priceelasticityof1.67. d.complements,andhaveacross-priceelasticityof-1.67. 65.SupposethatwhenthepriceofgoodXfallsfrom$10to$8,thequantitydemandedofgoodYrisesfrom20unitsto25units.Usingthemidpointmethod,thecross-priceelasticityofdemandis a.-1.0,andXandYarecomplements. b.-1.0,andXandYaresubstitutes. c.1.0,andXandYarecomplements. d.1.0,andXandYaresubstitutes. 66.SupposethatwhenthepriceofgoodXfallsfrom$6to$4,thequantitydemandedofgoodYrisesfrom30unitsto40units.Usingthemidpointmethod,thecross-priceelasticityofdemandis a.-0.71,andXandYarecomplements. b.-1.40,andXandYarecomplements. c.-0.71,andXandYaresubstitutes. d.-1.40,andXandYaresubstitutes. 67.Supposethecross-priceelasticityofdemandbetweenhotdogsandmustardis-2.00.Thisimpliesthata20percentincreaseinthepriceofhotdogswillcausethequantityofmustardpurchasedto a.fallby200percent. b.fallby40percent. c.riseby200percent. d.riseby40percent. 68.Supposethecross-priceelasticityofdemandbetweenpeanutbutterandjellyis-2.50.Thisimpliesthata20percentincreaseinthepriceofpeanutbutterwillcausethequantityofjellypurchasedto a.fallby8percent. b.fallby50percent. c.riseby8percent. d.riseby50percent. 69.Maddypurchases2poundsofbeansand3poundsofricepermonthwhenthepriceofbeansis$2perpound.Shepurchases1poundsofbeansand4poundsofricepermonthwhenthepriceofbeansis$3perpound.Maddy’scross-priceelasticityofdemandforbeansandriceis a.0.71,andtheyaresubstitutes. b.-0.71,andtheyarecomplements. c.1.4,andtheyaresubstitutes. d.-1.4,andtheyarecomplements. 70.RefertoScenario5-1.WhatcanyoudeduceaboutthetypeofgoodPatty’sPizzaisandabouttherelationshipbetweenPatty’sPizzaandSue’sSubs? a.Patty’sPizzaisanormalgoodandPatty’sPizzaandSue’sSubsaresubstitutes. b.Patty’sPizzaisanormalgoodandPatty’sPizzaandSue’sSubsarecomplements. c.Patty’sPizzaisaninferiorgoodandPatty’sPizzaandSue’sSubsaresubstitutes. d.Patty’sPizzaisaninferiorgoodandPatty’sPizzaandSue’sSubsarecomplements. 71.RefertoScenario5-1.Usingthemidpointmethod,whatistheincomeelasticityofdemandforpizzaandwhatdoesthevalueindicateaboutthedemandforpizza? a.Theincomeelasticityis0.18sopizzaisanormalgood. b.Theincomeelasticityis-1sopizzaisaninferiorgood. c.Theincomeelasticityis1sopizzaisunitaryelastic. d.Theincomeelasticityis1sopizzaisanormalgood. 72.RefertoScenario5-1.Usingthemidpointmethod,thecrosspriceelasticityofdemandis a.about0.22,andthetwogoodsaresubstitutes. b.about-0.005,andthetwogoodsarecomplements. c.1,andthetwogoodsaresubstitutes. d.1,andthetwogoodsareunitaryelastic. 73.RefertoScenario5-2.Usingthemidpointmethod,ifthepriceofgoodXisconstantat$10andthepriceofgoodYdecreasesfrom$10to$8,thecrosspriceelasticityofdemandisabout a.0.57,andXandYaresubstitutes. b.-0.22,andXandYarecomplements. c.-0.80,andXandYarecomplements. […]

External link to Question : 42) If Raul’s marginal utility per dollar from bread 25 : 1241114
Economics

Question : 42) If Raul’s marginal utility per dollar from bread 25 : 1241114

  42) If Raul’s marginal utility per dollar from bread is 25 and the marginal utility per dollar from butter is 30, A) Raul should purchase more butter and less bread to increase his total utility. B) Raul’s marginal utility from butter will fall if he buys more butter. C) Raul’s marginal utility from bread will rise if he buys less bread. D) Only answers […]

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July 1, 2023
    

 

21) A grocery store sells a bag of potatoes at a fixed price of $2.30. Which of the following is a term used by economists to describe the money received from the sale of an additional bag of potatoes?

A) marginal revenue

B) gross earnings

C) pure profit

D) marginal costs

E) net benefit

22) Economists reason that the optimal decision is to continue any activity up to the point where the

A) marginal benefit is zero.

B) marginal benefit is greater than the marginal cost.

C) marginal cost is zero.

D) marginal benefit equals the marginal cost.

23) Marginal analysis involves undertaking an activity

A) until its marginal costs start declining.

B) only when its marginal benefits are positive.

C) until its marginal benefits equal marginal costs.

D) only if its marginal costs are greater than its marginal benefits.

24) The revenue received from the sale of ________ of a product is a marginal benefit to the firm.

A) an additional unit

B) the total number of units

C) no units

D) only profitable units

25) Making optimal decisions "at the margin" requires

A) making decisions according to one's whims and fancies.

B) making consistently irrational decisions.

C) weighing the costs and benefits of a decision before deciding if it should be pursued.

D) making borderline decisions.

26) Making "how much" decisions involve

A) calculating the total benefits of the activity and determining if you are satisfied with that amount.

B) calculating the total costs of the activity and determining if you can afford to incur that expenditure.

C) calculating the average benefit and the average cost of an activity to determine if it is worthwhile undertaking that activity.

D) determining the additional benefits and the additional costs of that activity.

27) The extra cost associated with undertaking an activity is called

A) net loss.

B) marginal cost.

C) opportunity cost.

D) foregone cost.

28) DeShawn's Detailing is a service that details cars at the customers' homes or places of work. DeShawn's cost for a basic detailing package is $40, and he charges $75 for this service. For a total price of $90, DeShawn will also detail the car's engine, a service that adds an additional $20 to the total cost of the package. What is DeShawn's marginal benefit if he sells a basic detailing package?

A) $35

B) $75

C) He makes a marginal loss of $15, not a marginal benefit.

D) The marginal benefit cannot be determined.

29) DeShawn's Detailing is a service that details cars at the customers' homes or places of work. DeShawn's cost for a basic detailing package is $40, and he charges $75 for this service. For a total price of $90, DeShawn will also detail the car's engine, a service that adds an additional $20 to the total cost of the package. What is the marginal cost of adding the engine detailing to the basic detailing package?

A) $20

B) $30

C) $60

D) $60 plus the value of his time

30) DeShawn's Detailing is a service that details cars at the customers' homes or places of work. DeShawn's cost for a basic detailing package is $40, and he charges $75 for this service. For a total price of $90, DeShawn will also detail the car's engine, a service that adds an additional $20 to the total cost of the package. Should DeShawn continue to offer the engine detailing service?

A) Yes, he still makes a profit by selling the engine detailing service with the basic detailing package.

B) Yes, but only if he raises the price of the basic detailing package.

C) No, his marginal benefit is less than his marginal cost.

D) More information is needed for DeShawn to make this decision.

 

 

default image
July 1, 2023
    

 

21) A grocery store sells a bag of potatoes at a fixed price of $2.30. Which of the following is a term used by economists to describe the money received from the sale of an additional bag of potatoes?

A) marginal revenue

B) gross earnings

C) pure profit

D) marginal costs

E) net benefit

22) Economists reason that the optimal decision is to continue any activity up to the point where the

A) marginal benefit is zero.

B) marginal benefit is greater than the marginal cost.

C) marginal cost is zero.

D) marginal benefit equals the marginal cost.

23) Marginal analysis involves undertaking an activity

A) until its marginal costs start declining.

B) only when its marginal benefits are positive.

C) until its marginal benefits equal marginal costs.

D) only if its marginal costs are greater than its marginal benefits.

24) The revenue received from the sale of ________ of a product is a marginal benefit to the firm.

A) an additional unit

B) the total number of units

C) no units

D) only profitable units

25) Making optimal decisions "at the margin" requires

A) making decisions according to one's whims and fancies.

B) making consistently irrational decisions.

C) weighing the costs and benefits of a decision before deciding if it should be pursued.

D) making borderline decisions.

26) Making "how much" decisions involve

A) calculating the total benefits of the activity and determining if you are satisfied with that amount.

B) calculating the total costs of the activity and determining if you can afford to incur that expenditure.

C) calculating the average benefit and the average cost of an activity to determine if it is worthwhile undertaking that activity.

D) determining the additional benefits and the additional costs of that activity.

27) The extra cost associated with undertaking an activity is called

A) net loss.

B) marginal cost.

C) opportunity cost.

D) foregone cost.

28) DeShawn's Detailing is a service that details cars at the customers' homes or places of work. DeShawn's cost for a basic detailing package is $40, and he charges $75 for this service. For a total price of $90, DeShawn will also detail the car's engine, a service that adds an additional $20 to the total cost of the package. What is DeShawn's marginal benefit if he sells a basic detailing package?

A) $35

B) $75

C) He makes a marginal loss of $15, not a marginal benefit.

D) The marginal benefit cannot be determined.

29) DeShawn's Detailing is a service that details cars at the customers' homes or places of work. DeShawn's cost for a basic detailing package is $40, and he charges $75 for this service. For a total price of $90, DeShawn will also detail the car's engine, a service that adds an additional $20 to the total cost of the package. What is the marginal cost of adding the engine detailing to the basic detailing package?

A) $20

B) $30

C) $60

D) $60 plus the value of his time

30) DeShawn's Detailing is a service that details cars at the customers' homes or places of work. DeShawn's cost for a basic detailing package is $40, and he charges $75 for this service. For a total price of $90, DeShawn will also detail the car's engine, a service that adds an additional $20 to the total cost of the package. Should DeShawn continue to offer the engine detailing service?

A) Yes, he still makes a profit by selling the engine detailing service with the basic detailing package.

B) Yes, but only if he raises the price of the basic detailing package.

C) No, his marginal benefit is less than his marginal cost.

D) More information is needed for DeShawn to make this decision.

 

 

default image
July 1, 2023
    

 

21) A grocery store sells a bag of potatoes at a fixed price of $2.30. Which of the following is a term used by economists to describe the money received from the sale of an additional bag of potatoes?

A) marginal revenue

B) gross earnings

C) pure profit

D) marginal costs

E) net benefit

22) Economists reason that the optimal decision is to continue any activity up to the point where the

A) marginal benefit is zero.

B) marginal benefit is greater than the marginal cost.

C) marginal cost is zero.

D) marginal benefit equals the marginal cost.

23) Marginal analysis involves undertaking an activity

A) until its marginal costs start declining.

B) only when its marginal benefits are positive.

C) until its marginal benefits equal marginal costs.

D) only if its marginal costs are greater than its marginal benefits.

24) The revenue received from the sale of ________ of a product is a marginal benefit to the firm.

A) an additional unit

B) the total number of units

C) no units

D) only profitable units

25) Making optimal decisions "at the margin" requires

A) making decisions according to one's whims and fancies.

B) making consistently irrational decisions.

C) weighing the costs and benefits of a decision before deciding if it should be pursued.

D) making borderline decisions.

26) Making "how much" decisions involve

A) calculating the total benefits of the activity and determining if you are satisfied with that amount.

B) calculating the total costs of the activity and determining if you can afford to incur that expenditure.

C) calculating the average benefit and the average cost of an activity to determine if it is worthwhile undertaking that activity.

D) determining the additional benefits and the additional costs of that activity.

27) The extra cost associated with undertaking an activity is called

A) net loss.

B) marginal cost.

C) opportunity cost.

D) foregone cost.

28) DeShawn's Detailing is a service that details cars at the customers' homes or places of work. DeShawn's cost for a basic detailing package is $40, and he charges $75 for this service. For a total price of $90, DeShawn will also detail the car's engine, a service that adds an additional $20 to the total cost of the package. What is DeShawn's marginal benefit if he sells a basic detailing package?

A) $35

B) $75

C) He makes a marginal loss of $15, not a marginal benefit.

D) The marginal benefit cannot be determined.

29) DeShawn's Detailing is a service that details cars at the customers' homes or places of work. DeShawn's cost for a basic detailing package is $40, and he charges $75 for this service. For a total price of $90, DeShawn will also detail the car's engine, a service that adds an additional $20 to the total cost of the package. What is the marginal cost of adding the engine detailing to the basic detailing package?

A) $20

B) $30

C) $60

D) $60 plus the value of his time

30) DeShawn's Detailing is a service that details cars at the customers' homes or places of work. DeShawn's cost for a basic detailing package is $40, and he charges $75 for this service. For a total price of $90, DeShawn will also detail the car's engine, a service that adds an additional $20 to the total cost of the package. Should DeShawn continue to offer the engine detailing service?

A) Yes, he still makes a profit by selling the engine detailing service with the basic detailing package.

B) Yes, but only if he raises the price of the basic detailing package.

C) No, his marginal benefit is less than his marginal cost.

D) More information is needed for DeShawn to make this decision.

 

 

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550 words
We'll send you the first draft for approval by September 11, 2018 at 10:52 AM
Total price:
$26
The price is based on these factors:
Academic level
Number of pages
Urgency
Basic features
  • Free title page and bibliography
  • Unlimited revisions
  • Plagiarism-free guarantee
  • Money-back guarantee
  • 24/7 support
On-demand options
  • Writer’s samples
  • Part-by-part delivery
  • Overnight delivery
  • Copies of used sources
  • Expert Proofreading
Paper format
  • 275 words per page
  • 12 pt Arial/Times New Roman
  • Double line spacing
  • Any citation style (APA, MLA, Chicago/Turabian, Harvard)

Our guarantees

Delivering a high-quality product at a reasonable price is not enough anymore.
That’s why we have developed 5 beneficial guarantees that will make your experience with our service enjoyable, easy, and safe.

Money-back guarantee

You have to be 100% sure of the quality of your product to give a money-back guarantee. This describes us perfectly. Make sure that this guarantee is totally transparent.

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Zero-plagiarism guarantee

Each paper is composed from scratch, according to your instructions. It is then checked by our plagiarism-detection software. There is no gap where plagiarism could squeeze in.

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Free-revision policy

Thanks to our free revisions, there is no way for you to be unsatisfied. We will work on your paper until you are completely happy with the result.

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Privacy policy

Your email is safe, as we store it according to international data protection rules. Your bank details are secure, as we use only reliable payment systems.

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Fair-cooperation guarantee

By sending us your money, you buy the service we provide. Check out our terms and conditions if you prefer business talks to be laid out in official language.

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