Consider the town of Econville with a population of 5,000. There are 1,000 high school students, 1,000 undergraduate 1,000 graduate students, 1,000 economics professors, and 1,000 retired economists. Suppose that the total annual income in the economy is S 100 million: Each high school student earns $7,000 annually; each undergraduate earns $12,000 annually; each graduate student earns $20,000 annually; each professor earns $56,000 annually; and each retiree earns $5,000 annually. Suppose that the government sets the poverty line at an annual income of $16,000. The percentage of people with annual incomes below the poverty line in Econville is:

Uppose the book-printing industry is competitive and begins in a long-run equilibrium. then hi-tech printing company invents a new process that sharply reduces the cost of printing books. suppose hi-tech's patent prevents other firms from using the new technology. which of the following statements are true about what happens in the short run? check all that apply. hi-tech's average-total-cost curve shifts downward. hi-tech's profits increase. the price of books remains the same. hi-tech's marginal-cost curve remains the same.

Consider the market for gasoline. suppose that, in a competitive market without government regulations, the equilibrium price of gasoline is $3.00 per gallon, and employees at gas stations earn $17.50 per hour. complete the following table by indicating whether each of the statements is an example of a price ceiling or a price floor and whether it results in a shortage or a surplus or has no effect on the price and quantity that prevail in the market. statement price control effect the government has instituted a legal minimum price of $3.40 per gallon for gasoline. the government prohibits gas stations from selling gasoline for more than $3.40 per gallon. due to new regulations, gas stations that would like to pay better wages in order to hire more workers are prohibited from paying more than $14.50 per hour.

Fly-by products, inc. operates primarily in the united states and has several segments. for the following segment, determine whether it is a cost center, profit center, or investment center: international operations- acts as an independent segment responsible for all facets of the business outside of the united states. select one: a. cost center b. profit center c. investment center