In the above figure, at the firm's profit maximizing output, total revenue is rectangle
A. 0P2BQ1.
B. 0P1AQ1.
C. 0P3FQ3.
D. 0P5EQ5.
Answer: B
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A price tag of $400 for a tablet device is an example of money as
A) a store of value. B) a time deposit. C) a unit of accounting. D) a medium of exchange.
Resources are scarce
a. because there is always a greater demand for them than there is a supply of them b. only if the resources are nonrenewable c. only if the resources are renewable d. because all resources are nonrenewable e. because all resources are renewable
The government considers a market to be unconcentrated if its HHI number is less than ____, and highly concentrated if that number exceeds ____.
A. 1,000; 2,500 B. 100; 9,000 C. 50; 500 D. 500; 1,300
Reinsurance is a common solution for insurance companies when the
A. uncertainty to homeowners and insurance companies is large. B. uncertainty cannot be summarized actuarially. C. uncertainty to homeowners is large but small for insurance companies. D. uncertainty to homeowners and insurance companies is small.