If price is equal to short-run average variable cost, this price is known as
a. the break-even price.
b. the profit-maximizing price.
c. the shutdown price.
d. the revenue-maximizing price.
c
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There is an inverse relationship between the present value of a future amount and the interest rate used for discounting
a. True b. False
For a country to double its per capita income every twenty years, it would have to sustain an annual economic growth rate equal to
a. 1.75 percent. b. 2 percent. c. 3.5 percent. d. 4 percent.
Long-term trends for private employer-sponsored insurance indicate that:
a. enrollment in the staff-model HMO is becoming more popular. b. there is a resurgence in the popularity of traditional indemnity insurance coverage. c. the continued popularity of the preferred provider organization is reflected by the fact that it is still the fastest growing form of insurance. d. almost one-third of private sector employees covered by group plans are enrolled in some form of high-deductible health plan. e. the high-deductible health plan (HDHP) is now the most popular form of insurance for private sector employees covered by group plans.
What characterizes a constant-cost industry and what causes it to be a constant-cost industry?
What will be an ideal response?