A worldwide hops (a flowers used in brewing) shortage made stouts, ales and other specialty microbrews more pricy in 2008. Gayle Goshie, a hops farmer, blames overproduction for hops' previously cheap place on the agricultural market
The glut pushed many hop farmers out business, which gradually helped hop prices recover. Suppose farming hops is a perfectly competitive market. Why would some hop farmers go out of business? A) because the price of hops was below the minimum of average fixed cost
B) because the price of hops was lower than the minimum of average variable cost
C) because the price of hops was higher than the minimum of average variable cost
D) because the price of hops was lower than the minimum of average total cost
B
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________ describes hardy people who bounce back, have a sense of control over their lives and do not fear change
a. Cognition b. Emotive ability c. Psychological hardiness d. Reactivity
The actual incidence of payroll taxes, in the consensus view, is:
A. Split evenly between the worker and the employer B. More on the employer than on the worker C. More on the worker than on the employer D. All on the employer, who remits the tax to the government