Homework Answers
Ans) the correct option is B) change incentives.
The benefit of a one-unit increase in an activty decreases as you do more of it. The marginal cost of an activity increases as you do more of it.
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This Question: 4 pts A change in a marginal benefit or cost wil 0 A. increase...
1. The marginal benefit is the (total, incremental increase in) benefit associated with an increase in...
1. The marginal benefit is the (total, incremental increase in) benefit associated with an increase in the activity. (1 point) 2. Professor Smith researches whether providing government subsidies for daycare will increase the number of women that choose to enter the labor force. Is this a microeconomic or macroeconomic question? (1 point) 3. Professor Nuñez researches whether reducing the income taxes and government spending on national defense by the same amount leads to an increase or a reduction in Gross...
This Question: 5 pts 28 of 34 (0 complete) The cross elasticity of demand for good...
This Question: 5 pts 28 of 34 (0 complete) The cross elasticity of demand for good A with respect to good B is 0.2. A 10 percent change in the price of good B will lead to aP Goods A and B are percent change in the quantity of good A demanded O A. -2; complements O B. 2; substitutes OC. -0.5; substitutes O D. 0.5; complements This Question: 6 pts 29 of 34 (0 complete) Which of the following...
Quanto Quantity Question 3 of 5 At point D, the O A. Marginal benefit of buying...
Quanto Quantity Question 3 of 5 At point D, the O A. Marginal benefit of buying more X is greater than the marginal cost. OB. Marginal benefit of buying more X is less than the marginal cost. OC. Consumer is making their optimal consumption choice, given income constraints OD. Consumer is not using up all their income Reset Selection
Marginal Cost Marginal Benefit and Marginal Cost (Dollars) 00:42:18 Marginal Benefit Quantity of Shoes Refer to...
Marginal Cost Marginal Benefit and Marginal Cost (Dollars) 00:42:18 Marginal Benefit Quantity of Shoes Refer to the diagram for athletic shoes. The optimal output of shoes is Multiple Choice Is where marginal cost equals marginal benefit O is where marginal beneft exceeds marginal costs 0 0
Quantity of schooling (years) 0 2 3 Total Cost Marginal Cost Total Benefit Marginal Benefit $0...
Quantity of schooling (years) 0 2 3 Total Cost Marginal Cost Total Benefit Marginal Benefit $0 --- $0 --- $15,000 $100,000 $30,000 $150,000 $45,000 $175,000 $60,000 $187,500 $75,000 $193,750 $90,000 $196,875 5 {Figure #4) the marginal cost incurred by attending year 4 of school is: Select one: O a. $187,500 O b. $60,000 O c. $20,000 O d. $15,000
D Question 1 1 pts Consider the market for raspberries in Australia. Which of the following...
D Question 1 1 pts Consider the market for raspberries in Australia. Which of the following would most likely lead to a decrease in demand O A decrease in the price of gooseberries, a substitute for raspberries. An increase in the price of blueberries, a complement for raspberries A decrease in income if raspberries are an inferior good. O A severe frost that destroys most of the Tasmanian raspberry crop. Both a and b are correct. DI Question 2 1...
In a perfectly competitive market, the demand curve shows the O A. marginal benefit; marginal cost...
In a perfectly competitive market, the demand curve shows the O A. marginal benefit; marginal cost OB. utility; average cost O C. net benefit; net costs O D. economic surplus, opportunity cost received by consumers and the supplu curve shows the
Price per unit S (Marginal cost) H с B X A D (Marginal benefit) F E...
Price per unit S (Marginal cost) H с B X A D (Marginal benefit) F E Quantity (per period) The figure above shows a market failure. Based on the figure, what is true if production is at level G? Price is equal to marginal cost and greater than marginal benefit. Marginal benefit is equal to marginal cost. Marginal benefit is less than marginal cost. Marginal benefit is greater than marginal cost. QUESTION 62 с Price per unit $25 and marginal...
QUESTION 4 The general pattern that consumption of the first few units of any good tends...
QUESTION 4 The general pattern that consumption of the first few units of any good tends to bring a higher level of person than consumption of later units is a common pattern. to a a. utility b. marginal benefit O c. opportunity cost O d. sunk costs
Question 11 1.5 pts An increase in marginal cost that remains within the gap of the...
Question 11 1.5 pts An increase in marginal cost that remains within the gap of the marginal revenue curve of a kinked demand oligopolist will: keep price and output the same. O raise price and decrease output. lower price and increase output. raise price and raise output. lower price and lower output.
1. The marginal benefit is the (total, incremental increase in) benefit associated with an increase in the activity. (1 point) 2. Professor Smith researches whether providing government subsidies for daycare will increase the number of women that choose to enter the labor force. Is this a microeconomic or macroeconomic question? (1 point) 3. Professor Nuñez researches whether reducing the income taxes and government spending on national defense by the same amount leads to an increase or a reduction in Gross...
This Question: 5 pts 28 of 34 (0 complete) The cross elasticity of demand for good A with respect to good B is 0.2. A 10 percent change in the price of good B will lead to aP Goods A and B are percent change in the quantity of good A demanded O A. -2; complements O B. 2; substitutes OC. -0.5; substitutes O D. 0.5; complements This Question: 6 pts 29 of 34 (0 complete) Which of the following...
Quanto Quantity Question 3 of 5 At point D, the O A. Marginal benefit of buying more X is greater than the marginal cost. OB. Marginal benefit of buying more X is less than the marginal cost. OC. Consumer is making their optimal consumption choice, given income constraints OD. Consumer is not using up all their income Reset Selection
Marginal Cost Marginal Benefit and Marginal Cost (Dollars) 00:42:18 Marginal Benefit Quantity of Shoes Refer to the diagram for athletic shoes. The optimal output of shoes is Multiple Choice Is where marginal cost equals marginal benefit O is where marginal beneft exceeds marginal costs 0 0
Quantity of schooling (years) 0 2 3 Total Cost Marginal Cost Total Benefit Marginal Benefit $0 --- $0 --- $15,000 $100,000 $30,000 $150,000 $45,000 $175,000 $60,000 $187,500 $75,000 $193,750 $90,000 $196,875 5 {Figure #4) the marginal cost incurred by attending year 4 of school is: Select one: O a. $187,500 O b. $60,000 O c. $20,000 O d. $15,000
D Question 1 1 pts Consider the market for raspberries in Australia. Which of the following would most likely lead to a decrease in demand O A decrease in the price of gooseberries, a substitute for raspberries. An increase in the price of blueberries, a complement for raspberries A decrease in income if raspberries are an inferior good. O A severe frost that destroys most of the Tasmanian raspberry crop. Both a and b are correct. DI Question 2 1...
In a perfectly competitive market, the demand curve shows the O A. marginal benefit; marginal cost OB. utility; average cost O C. net benefit; net costs O D. economic surplus, opportunity cost received by consumers and the supplu curve shows the
Price per unit S (Marginal cost) H с B X A D (Marginal benefit) F E Quantity (per period) The figure above shows a market failure. Based on the figure, what is true if production is at level G? Price is equal to marginal cost and greater than marginal benefit. Marginal benefit is equal to marginal cost. Marginal benefit is less than marginal cost. Marginal benefit is greater than marginal cost. QUESTION 62 с Price per unit $25 and marginal...
QUESTION 4 The general pattern that consumption of the first few units of any good tends to bring a higher level of person than consumption of later units is a common pattern. to a a. utility b. marginal benefit O c. opportunity cost O d. sunk costs
Question 11 1.5 pts An increase in marginal cost that remains within the gap of the marginal revenue curve of a kinked demand oligopolist will: keep price and output the same. O raise price and decrease output. lower price and increase output. raise price and raise output. lower price and lower output.
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