Suppose that you are opening a new music store in your town.

What would you offer in the product market?

(list 3 products)

If society wishes to reduce overall pollution by a certain amount, it is efficient to have firms with lower costs reduce greater amounts of pollution than those with higher costs. True or False?

Antonio is a 24-year-old professional tennis player. when he's not competing, he works as a coach at a local tennis club.

Which of the following statements is true? a. In the short run, there are no fixed costs, only variable costs. b. In the short run, there are fixed and variable costs, but fixed costs are the only costs a firm is concerned with. c.

There are more US District Courts than there are US Circuit Courts of Appeal. True False

Dextra Computing sells merchandise for $16,000 cash on September 30 (cost of merchandise is $11,200). Dextra collects 10% sales tax. Record the entry for the $16,000 sale and its sales tax.

Matthew buys a vehicle that is under a three-year, 36,000-mile factory warranty from Kim after she has owned it for two years and has put 37,000 miles on it. For how long will Matthew be able to take the vehicle to the dealer to get free repairs?

Eldin is a house painter. He can paint three houses per week. He is considering hiring his friend Murphy. Murphy can paint five houses per week. What is the maximum total output possible if Eldin hires Murphy?

7. Two farmers, A and B, each apply 100 tons of manure on their fields. To reduce manure runoff, the government has decided to require a permit for each ton of manure applied. The government gives each farmer 50 permits.

Anthony and cathy smith have been married for thirty-one years. they have always had a joint bank account, discuss big expenditures before making them, and share household duties.

Assume there is a decrease in the market demand for a good sold by price-taking firms that are initially producing the profit-maximizing level of output. For the individual firm, this would result in: