All of the following variables are used to calculate total profit except
A. output.
B. price.
C. AVC.
D. ATC.
C. AVC.
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If the stock price of a company is higher than the discounted value of its future earnings,
a. Buy the stock only if the company has a sustained competitive advantage b. Don't buy the stock, even if the company has a sustained competitive advantage c. Always buy the stock d. None of the above
When a tax alters consumers' incentives, it is:
A. always the explicit purpose of the policy. B. sometimes a side effect of a tax designed to raise revenue. C. called a sin tax. D. meant to encourage increased consumption.
In a sequential game
A) players try to figure out an opponent's future response in making their own moves. B) all players make decisions at the same time. C) players draw lots and take turns. D) players figure out their own moves and then forecast their following moves.
Other things the same, when an economy increases its saving rate
a. consumption and production rise now. b. consumption rises now and production rises later c. consumption falls now and production rises later. d. consumption falls now and production falls later.