Which of the following types of firms are least likely to have their MC, AVC, and ATC curves affected by fluctuations in gasoline prices?
A. Firms like UPS that use a fleet of gasoline-powered vehicles.
B. Taxi cab and limousine companies.
C. Companies that operate bus tours to popular vacation destinations.
D. Firms like iTunes that distribute their products over the internet.
Answer: D
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Bobby is offered two fulltime jobs. In the first job, as a salesperson, he has a 50 percent chance to make $2,000 a month and a 50 percent chance to make $10,000 a month. The second job, as a construction worker, pays $4,500 a month with certainty
Bobby's utility of wealth curve is shown in the figure above. Bobby will take the ________ job because his expected ________ from this job is greater. A) first; utility B) second; utility C) second; income D) first; income
A good that has social costs that are less than private costs has a quantity that is
A) too high. B) too low. C) just right. D) equal to zero.