The most accurate procedure for finding out whether it is more efficient for a commercial airline to use 727s or 757s for its domestic flights is to
A) compare the fuel efficiency of 727s and 757s.
B) compare the fuel efficiency and operating cost of 727s and 757s.
C) compare the acquisition cost, operating cost, and fuel efficiency of 727s and 757s.
D) compare the acquisition cost, operating cost, and fuel efficiency per passenger seat of 727s and 757s.
E) see whether the airline has chosen to use 727s or 757s.
E
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If the real wage rises
A) firms will hire less labor. B) firms will hire additional labor. C) the marginal cost of labor falls. D) the marginal benefit of the worker increases.
If there is an external cost from making paper, an unregulated competitive market produces
A) less than the efficient quantity. B) the efficient quantity. C) more than the efficient quantity. D) a quantity that could be greater than, the same as, or less than the efficient amount.