Microeconomics

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The fewer alternative uses a resource has, a. the greater the proportion of its earnings that is ... Started by formula1	1 Replies 44 Views	Jun 30, 2018 by Swizqar
If the supply of oceanfront lots is fixed and perfectly inelastic, a. the demand for the resource ... Started by wenmo	1 Replies 32 Views	Jun 30, 2018 by ebonylittles
If all of the returns to a resource are in the form of economic rent, a. the price of that resource ... Started by azncindy619	1 Replies 120 Views	Jun 30, 2018 by cassie_ragen
If all of the income paid to a resource is opportunity costs, a. the price and quantity of that ... Started by olgavictoria	1 Replies 63 Views	Jun 30, 2018 by Li Jun
Gooey Flakes is the only ready-to-eat cereal that has chocolate syrup injected into each flake. The ... Started by nramada	1 Replies 144 Views	Jun 30, 2018 by Missbam101
Consider two resource markets in which the demand curves slope downward. In market A, the supply ... Started by amal	1 Replies 78 Views	Jun 30, 2018 by SamMuagrove
A game show host who gave up his job as a teacher brags about his salary, saying the rest is pure ... Started by j.rubin	1 Replies 32 Views	Jun 30, 2018 by mariahkathleeen
Economic rent is defined as a. the opportunity cost of a resource b. the payment to a resource in ... Started by acc299	3 Replies 75 Views	Jun 30, 2018 by matt
A TV actor used to be a teacher. Aside from the salary, he likes both jobs equally well. If he can ... Started by Jipu 123	1 Replies 22 Views	Jun 30, 2018 by mjbamaung
According to the Coase theorem, externality problems may be solved if the parties involved can ... Started by ssal	1 Replies 43 Views	Jun 30, 2018 by ryansturges
Which resource earns the highest economic rent as a proportion of total earnings? a. a resource ... Started by sc00by25	1 Replies 38 Views	Jun 30, 2018 by Tonny
The portion of a worker's total earnings that is not necessary to keep the worker in her present job ... Started by panfilo	1 Replies 58 Views	Jun 30, 2018 by juicepod
The division of a resource's earnings between economic rent and opportunity cost depends on the ... Started by wrbasek0	1 Replies 75 Views	Jun 30, 2018 by matt
Economic rent represents a. a loss to society since resource owners do not earn it b. the ... Started by rayancarla1	1 Replies 21 Views	Jun 30, 2018 by kjo;oj
A resource that earns only economic rent a. cannot be employed in any other line of production, so ... Started by ETearle	1 Replies 32 Views	Jun 30, 2018 by Kingjoffery
The price paid to a resource in totally fixed supply is called a. economic rent b. economic profit ... Started by ghost!	3 Replies 52 Views	Jun 30, 2018 by rnehls
The payment made to an owner of a resource in excess of the opportunity cost of the resource is a. ... Started by ereecah	1 Replies 45 Views	Jun 30, 2018 by iman
A resource's marginal product is a. the revenue produced by one additional unit of that resource, ... Started by vicky	1 Replies 48 Views	Jun 30, 2018 by Hikerman221
If ten cases of pretzels are sold at a price of 8 each and the marginal product of the last unit of ... Started by tsand2	1 Replies 25 Views	Jun 30, 2018 by ndhahbi
If 15 workers produce 100 license plates, 16 workers produce 120 license plates, and 17 workers ... Started by Awilson837	1 Replies 71 Views	Jun 30, 2018 by ecox1012
If 14 workers produce a total of 25 cabinets and 15 workers produce a total of 30 cabinets, a. the ... Started by hubes95	1 Replies 92 Views	Jun 30, 2018 by soda0602
If a firm is experiencing diminishing marginal returns, a. total output decreases as all resources ... Started by lbcchick	1 Replies 41 Views	Jun 30, 2018 by heinisk01
Private markets can allocate resources optimally a. under all circumstances b. only if property ... Started by karen	1 Replies 33 Views	Jun 30, 2018 by Animal_Goddess
Suppose the marginal product of the second worker hired by a firm is 3, and the price of the last ... Started by scienceeasy	3 Replies 43 Views	Jun 30, 2018 by katieost
Marginal revenue product is measured in dollars per unit of output. a. True b. ... Started by mikaylakyoung	1 Replies 23 Views	Jun 30, 2018 by vboyd24