Maverick Brown and Mark Williams graduated from the same business school before being recruited by a reputable multinational company. However, within a year, the company promoted Maverick to the senior management level and paid him a higher salary than Mark. Which of the following factors can explain this pay differential?
a. Nature of the job
b. Marginal productivity
c. Age
d. Work experience
b
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Suppose the domestic supply (QSU.S.) and demand (QDU.S) for bicycles in the United States is represented by the following set of equations:QSU.S. = 2PQDU.S. = 200 - 2P.Demand (QD) and supply (QS) in the rest of the world is represented by the equations:QS = PQD =160 - P.Quantities are measured in thousands and price, in U.S. dollars.In the absence of international trade, ________ thousand bicycles will be sold in the United States at a per unit price of
A. 50; $50. B. 100; $100. C. 100; $50. D. 150; $50.
Refer to the above table. The price of a hamburger is $2, the price of a movie is $10, and the consumer has $44. What is the change in quantity demanded of hamburgers if the price of a hamburger decreases to $1?
A. Quantity demanded increases by 2 hamburgers. B. Quantity demanded increases by 4 hamburgers. C. Quantity demanded increases by 1 hamburger. D. Quantity demanded increases by 3 hamburgers.