The break-even point means that the firm is realizing economic profits.
Answer the following statement true (T) or false (F)
False
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How does aggregate demand curve (AD) differ from an individual demand curve (D)?
A) AD is generally vertical while D is usually downward sloping. B) D represents the price-quantity relationship for a single good or service while AD looks at the entire economic system. C) AD is generally a downward sloping curve while D usually slopes upward. D) Look for D in macroeconomic analyses and for AD in microeconomics.
The outcome of the state of nature effects the payoff to the agent under a
A) fixed-fee contract. B) hire contract. C) contingent contract. D) All of the above.
Shopping at a warehouse, such as Sam's Club or Costco, allows its members to pay very low prices on the goods and services they buy. Customers who shop at such a store incur:
A. transaction costs because they must be members to shop there. B. no transaction costs because they pay prices that are lower than any other location. C. transaction costs because they must buy a product in bulk. D. no transaction costs because members can return any item purchased for any reason.
A company’s gearing is
a) the ratio of debt to overall assets b) the ratio of stock market valuation to book value c) the share price divided by corporate earnings d) its stockholder’s equity e) the ratio of taxes paid to the overall wage bill