At the current level of production, if the firm's marginal costs exceeds marginal benefits, then
a. The company should produce more
b. The company is maximizing profit at this output
c. The company is producing too much
d. Not possible to determine
c
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Since 1930 the period of highest government budget deficits for the U.S. took place in ________
A) the 1930s B) the 1940s C) the 1950s D) the 1980s E) the 1990s
The sample average is a random variable and
A) is a single number and as a result cannot have a distribution. B) has a probability distribution called its sampling distribution. C) has a probability distribution called the standard normal distribution. D) has a probability distribution that is the same as for the Y1,..., Yn i.i.d. variables.
The process of entry and exit into a monopolistically competitive market continues until:
A. profits are zero. B. long-run equilibrium is reached. C. price is equal to average total cost. D. All of these statements are true.
You have a bond that you can redeem for $10,000 one year from now. The interest rate is 3 percent (0.03) per year. How much is the bond worth today?
a. $9,090.91 b. $10,000.00 c. $8,264.46 d. $9,708.74 e. $9,000.00