Matt has decided to purchase his textbooks for the semester. His options are to purchase the books online with next day delivery at a cost of $175, or to drive to campus tomorrow to buy the books at the university bookstore at a cost of $170. Last week he drove to campus to buy a concert ticket because they offered 25 percent off the regular price of $16. The benefit to Matt of driving to campus to buy the concert ticket last week was:
A. $9
B. $4
C. $16
D. $2
Answer: B
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A country reports that unplanned inventories increased during 2012. The increase in unplanned inventories leads to
A) firms decreasing production, which decreases GDP. B) actual aggregate expenditure being different than real GDP. C) consumers increasing their consumption expenditure, which increases GDP. D) firms increasing production, which increases GDP. E) the government decreasing production, which decreases GDP.
The ERT Company sells lead pencils in a perfectly competitive market for $5 per box of a dozen pencils. The firm currently produces 2,500 boxes of lead pencils each week and average total cost at this level of production is $5.15
What level of profit is this firm earning? Explain.
A zone of peace refers to the idea that democracies
a. rarely go to war with each other. b. do not attack their immediate neighbors. c. maintain peace through heavily armed protection of their borders. d. are clearly more peaceful than any other states.
Refer to Figure 84. The marginal cost of the third microwave oven is A) $133.33. B) $150. C) $350 D) indeterminate from this information.