Which statement is TRUE about a comparison of economic freedom with political freedom?
A) Economic freedom is more important than political freedom when considering positive economic growth.
B) Economic freedom leads to positive economic growth while political freedom leads to negative economic growth.
C) Political freedom is more important than economic freedom when considering positive economic growth.
D) Economic freedom cannot exist without political freedom.
A
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In the electric guitar market, the quantity demanded is significantly greater than the quantity found at the bottom of the LRAC. Given this information, which of the following will likely occur?
a. Multiple firms will compete in the electric guitar market. b. One firm will manufacture and sell electric guitars. c. Most electric guitar firms will experience diseconomies of scale. d. A monopoly will form in the electric guitar industry.
The following table shows the relationship between the speed of a computer's CPU and its benefits and costs. Assume that all other features of the computer are the same (that is, CPU speed is the only source of variation), and only the CPU speeds listed below are available for purchase.CPUGHzTotal BenefitMarginal BenefitTotal CostsMarginal Costs2.0$1,000 $900 2.5$1,400 &1003.0 $300$1,200 3.5$1,900 &1,500 4.0$2,000 &400The marginal benefit of upgrading from a 2.0GHz computer to a 2.5GHz computer is:
A. $400. B. $1,400. C. $1,000. D. $100.