The figure above shows a firm in a perfectly competitive market. The firm will shut down if price falls below
A) P1.
B) P2.
C) P3.
D) P4.
B
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Which of the following is NOT given in the video as an example of a real shock?
A. high inflation B. bad weather C. wars D. changes in the price of oil
Willingness to pay measures
A) the maximum price that a buyer is willing to pay for a good or service. B) the amount a seller actually receives for a good minus the minimum amount the seller is willing to accept for the good. C) the maximum price a buyer is willing to pay minus the minimum price a seller is willing to accept. D) the maximum price a buyer is willing to pay for a product minus the amount the buyer actually pays for it.
Refer to Table 2-10. Which of the following statements is true?
A) Barney has a comparative advantage in making unicycles and Fred in making pogo sticks. B) Barney has a comparative advantage in making pogo sticks and Fred in making unicycles. C) Barney has a comparative advantage in making both products. D) Fred has a comparative advantage in making both products.
Bay City Mining, Inc has a price of $20 a share, outstanding shares of 2.5 million, retained earnings of $1 million dollars, and a dividend yield of 2 percent. It has a price-earnings ratio of
a. 50, which is high by historical standards. b. 50, which is low by historical standards. c. 25, which is high by historical standards. d. 25, which is low by historical standards.