The economy is:
A. complex, and it operates under uncertain rules.
B. complex, though it operates under clear rules.
C. simple, and it operates under clear rules.
D. simple, though it operates under uncertain rules.
Ans: A. complex, and it operates under uncertain rules.
You might also like to view...
The output level that occurs in any market that is in equilibrium:
a. is the quantity where the supply curve intersects the y-axis. b. is the quantity where the demand curve intersects the x-axis. c. is the quantity at an output level where buyers will pay more than suppliers require. d. is an output level where buyers will not pay as much as suppliers require. e. is the quantity where the demand and supply curves intersect each other.
Answer the question on the basis of the following information: Harry owns a barber shop and charges $6 per haircut. By hiring one barber at $10 per hour, the shop can provide 24 haircuts per eight-hour day. By hiring a second barber at the same wage
rate, the shop can now provide a total of 42 haircuts per day. Refer to the given information. The MP of the second barber is: A. $240. B. $108. C. 18 haircuts. D. 42 haircuts.