Refer to the scenario above. If the government of India wants to repay a lower sum of money to the U.S., it should:
A) buy both dollars and rupees. B) sell both dollars and rupees.
C) buy dollars and sell rupees. D) buy rupees and sell dollars.
D
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The change in a firm's revenue as a result of hiring one more worker
A) is equal to the firm's marginal cost. B) will be negative if the demand for the firm's output is inelastic. C) is the definition of the marginal revenue product of labor. D) is the definition of the marginal product of labor.
A large airline calculates that the additional cost of a having a passenger on a flight to the Bahamas as the cost of a bag of peanuts and a soft drink, which totals $1.50, but the airline's price is $600 for potential customers who want to buy vacant seats on the day of the flight. Which economic principle is this airline failing to utilize?