Suppose Tammy grew up on a farm and is very good at plowing. In addition suppose she is a popular country singer who earns $4,000 per performance. If her husband Bob can plow (but not as well as Tammy) but he can't carry a tune, then it would be most efficient if
a. Tammy did both the plowing and the singing.
b. Tammy specialized in plowing and Bob in singing.
c. Bob did both the plowing and singing.
d. Tammy specialized in singing and Bob in plowing.
e. They both plowed and sang.
d
Economics
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Refer to Table 4-3. The table above lists the marginal cost of polo shirts by Marko's, a firm that specializes in producing men's clothing. If the market price of Marko's polo shirts is $30, producer surplus is
A) $0. B) $16. C) $52. D) $68.
Economics
Owners of buildings can expect to collect ____ economic rent in the long run
a. much b. marginal c. a competitive d. little or no
Economics