A firm has invented a beverage called slops. It doesn't taste very good, but it gives new Welk's and people a craving for Lawrence mus Johnson's jokes. Some people are willing to pay money for t so demand for Slops is given by the equation q 14 p. Slops. can be made at zero marginal cost from old-fashioned macroeconomics books dissolved in bathwater. But before any Slops can be produced, the firm must undertake a fixed cost of 54 ince the inventor has a patent on slops, it can be a monopolist in this new industry. (a) The firm will produce 7 units of Slops
(b) A Pareto improvement could be achieved by having the government pay the firm a subsidy of 59 and insisting that the firm offer Slops at zero price
(c) From the point of view of social efficiency, it is best that no Slops be produced
(d) The firm will produce 14 units of slops
(e) None of the other options are correct

The market for corn in country a is highly competitive. at the current market price of $5/bushel there is a shortage of 100,000 bushels of corn in this country. media reports claim that the price of corn will rise drastically in the near future. according to these reports, the neighboring country b had witnessed a similar situation recently. at the same price, the shortage in country b was also 100,000 bushels and eventually the equilibrium price in b went up to $10/bushel. both countries are known to have equal number of corn producers and the market supply of corn is identical at all prices. this, combined with the fact that consumers in the two countries also have similar tastes and preferences, led the media to conclude that the price of corn in country a would soon be as high as $10/bushel. the new equilibrium price turns out to be below $10/bushel, what inferences can be drawn?

Which curve shows increasing opportunity cost as you give up more of one option? demand curve bow-shaped curve yield curve indifference curve

According to the textbook chapter, “the emotional connection of distinguishing differences and conflict”, which of the following groups of terms describes best the skills/resources that managers need when managing differences in their organization? energy, commitment, tolerance, and appreciation energy, adequate funding, tolerance, and appreciation funding, tolerance, a strong hr department, and tolerance energy, a strong hr department, patience, and strong leadership skills