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Title: Consider the demand for labor in the computer chip industry. The demand for labor : Post by: neddhelp4exam on Feb 26, 2018 Consider the demand for labor in the computer chip industry. The demand for labor
A) is derived from the demand for computer chips. B) is shown by a perfectly elastic demand for labor. C) is shown by a perfectly inelastic demand for labor. D) has a demand curve that is backward bending. Ques. 2 As long as the marginal utility per dollar from pizza is greater than the marginal utility per dollar from soda, then to maximize utility a consumer will buy A) more soda to equalize the marginal utility per dollar between soda and pizza. B) less pizza and less soda. C) more pizza and less soda. D) equal amounts of pizza and soda. Ques. 3 Which group of features is shared by all games? A) rules, strategies, payoffs, outcome B) rules, profit, payoffs, outcome C) profit, strategies, payoffs, cheating D) rules, cheating, payoffs, outcome Ques. 4 In the short run a perfectly competitive firm will A) never shut down. B) shut down if P < ATC. C) shut down if P < AVC. D) shut down if P > AFC. Ques. 5 A good or service or a resource is nonexcludable if A) it is possible to prevent someone from enjoying its benefits. B) it is not possible to prevent someone from benefiting from it. C) its use by one person decreases the quantity available for someone else. D) its use by one person does not decrease the quantity available for someone else. Ques. 6 In the above figure, if output were restricted to 300 million pounds of turkey, then A) the marginal social benefit would exceed the marginal social cost on the last pound of turkey traded by 0.80. B) there would be a deadweight loss of 40 million. C) there would be inefficient underproduction of turkey. D) All of the above answers are correct. Ques. 7 The above table shows the short-run total product schedule for the campus book store. What is the average product (AP) of the 4th employee? A) 58 books sold B) 14.5 books sold C) 18 books sold D) 13.3 books sold Title: Consider the demand for labor in the computer chip industry. The demand for labor : Post by: Annahindrance on Feb 26, 2018 Title: Consider the demand for labor in the computer chip industry. The demand for labor : Post by: neddhelp4exam on Feb 26, 2018 Exactly what I needed for my quiz :D
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