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Question
Scenario 13.1:You are negotiating with your florist over the price of flowers for your wedding. You value the floral arrangements at $500. The florist's cost for the arrangement is $200. You finally settled on a price of $250.
Refer to Scenario 13.1. At your negotiated price your consumer surplus is:
A) $50.
B) $200.
C) $250.
D) $300.
Answer
This answer is hidden. It contains 1 characters.
Related questions
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B) NPV is understated
C) NPV is unaffected
D) NPV changes from positive to negative
Q:
For net present value calculations, the rate of return that one could earn by investing in another project with similar risk is known as the:
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Q:
If the inflation rate falls and nominal interest rates are unchanged,
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If an individual has $10,000 in a savings account paying 3% and the inflation rate is 2%, the nominal interest rate is
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Q:
The real interest rate is
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Q:
The first term in an NPV calculation is usually
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Q:
The "NPV Criterion" is that a firm should invest in a new capital project if
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B) the future value of the expected future cash flows is larger than the cost of the investment.
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Q:
Which of the following is NOT a factor that has contributed to declining private-sector differential between union and nonunion wages in the U.S. since 1980?
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Q:
Suppose a labor market has perfectly inelastic supply that is composed of union and non-union workers, and both groups of workers initially earn the perfectly competitive wage. What happens to the equilibrium employment level and wage for non-union workers if the union exercises its bargaining power?
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Suppose a labor market has perfectly inelastic supply that is composed of union and non-union workers, and both groups of workers initially earn the perfectly competitive wage. What happens to the equilibrium employment level and wage for union workers if the union exercises its bargaining power?
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Q:
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Q:
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Q:
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Who does NOT earn economic rent in a competitive factor market?
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Q:
Scenario 14.4:
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TP = 100L - 0.125L2 MP = 100 - 0.25L
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B) Marginal revenue product of labor
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Q:
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Q:
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Q:
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Q:
Use the following statements to answer this question:
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Q:
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Q:
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Q:
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Q:
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Q:
An increase in technology that enhances labor productivity will likely result in:
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B) an increase in labor employment and an increase in the wage rate.
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Q:
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Q:
If leisure is a normal good, then the income effect of a decrease in wage will
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Q:
The marginal revenue product can be expressed as the
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B) increment to revenue received from one additional unit of input hired.
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D) average physical product of the input times the marginal revenue received from the sale of the final product.