What are food stamps?
What will be an ideal response?
Food stamps are vouchers that have a face value greater than their cost that can be used to purchase food at grocery stores.
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Tucker Corporation sells its product for $5.00. Tucker's industrial engineers have informed management that hiring one additional worker will increase output by five units per hour. Tucker should hire the additional worker only if the wage rate is:
A. $5.00 or less per hour. B. $1.00 or more per hour. C. $25.00 or less per hour. D. more than $25.00 per hour.
Consider a Cournot duopoly with the following inverse demand function: P = 100 ? 2Q1 ? 2Q2. The firms' marginal costs are identical and are given by MCi = 2. Based on this information, consumer surplus in this market is:
A. $2,134.22. B. $16.33. C. $32.67. D. $1,067.11.