Explain how the arrival of inexpensive broadband has changed the PPF
What will be an ideal response?
The arrival of inexpensive broadband shifts the PPF outward as shown by the change from the initial PPF to the new PPF in Figure 3.5 . The intersection of the new PPF along the axis measuring video entertainment increases and the intersection of the new PPF along the axis measuring oth-er goods and services does not change.
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Refer to the scenario above. The net present value of the investment in Plan 4 is equal to:
A) -$8,001. B) -$556. C) -$791. D) -$3,737.
A monopolist union that desired to maximize its total wage bill (w ? l) would offer that quantity of labor for which:
a. labor's marginal productivity is zero. b. labor's wage falls to zero. c. the quantity of labor hired is as great as possible given the firm's demand curve. d. the marginal revenue from providing one more worker to the market is zero.