Suppose you know a piece of land will be worth $1 million (real) in 2025, and the real interest rate is 5%. About how much should you be willing to pay for the land today (20150)? (Assume no taxes)
a. $610,000
b. $1 million
c. $1.89 million
d. $230.000
a
Economics
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If a hot dog manufacturer acquires a bakery that primarily bakes hot dog buns, you would likely see
a. Higher prices for the hot dogs but lower prices for the buns b. Higher prices for the buns but lower prices for the hot dogs c. Higher prices for both the hot dogs and the buns d. Lower prices for both the hot dogs and the buns
Economics
[NeedAttention]
Exhibit 30-5
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Economics
The demand for French Roast coffee is likely to be
a. elastic. b. inelastic. c. unit elastic. d. perfectly inelastic.
Economics
In the short run, when a firm produces zero output, variable cost equals
A. Total cost. B. Marginal cost. C. Zero. D. Fixed cost.
Economics