Federal subsidies to higher education have the effect of
a. increasing the number of people seeking higher education and lowering tuition
b. increasing the number of people seeking higher education and raising tuition
c. decreasing the number of people seeking higher education and lowering tuition
d. decreasing the number of people seeking higher education and raising tuition
B
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More bidders tend to increase the selling price in a second-price auction because
a. bidders bid less aggressively b. the true value of the losers is lower c. the true values of the losers is higher d. Both A&C
Company B has just discovered that the marginal revenue product generated by the last worker hired was $25 while the marginal factor cost was $25. What should Company B do?
A) Leave the level of production unchanged. B) Increase the amount produced. C) Reduce the amount produced. D) Collect more information before making a decision.