Which of the following constitutes an implicit cost to the Asarta Manufacturing Company?
A. Payments of wages to its office workers
B. Foregone interest income from using savings to pay for operating expenses
C. Rent paid for the use of equipment owned by the Butters Machinery Company
D. Payments using economic profits resulting from current production
Answer: B
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The stock market boom in 1922–1929 seems "rational" enough if you take into account the expansion of the money supply in the same period
Indicate whether the statement is true or false
All of the following are resources EXCEPT
A) doctors because they perform services. B) the land the Statue of Liberty sits on. C) the computer in the student computer lab. D) money.
According to the law of demand, if the price of movie rentals decreases, ceteris paribus,:
a. the demand for movie rentals would increase. b. the quantity demanded of movie rentals would decrease. c. the quantity demanded of movie rentals would increase. d. the demand for movie rentals would decrease. e. the quantity demanded of movie rentals would not change.
Which of the following is an example of price discrimination?
a. Nabisco provides cents-off coupons for its products. b. Amtrak offers a lower price for weekend travel compared to weekday rates on the same routes. c. Hotel rates for AAA members are lower than for nonmembers. d. All of the above are correct.