The most common form of business organization in the United States is the sole proprietorship
a. True
b. False
A
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Exhibit 36-1 Bond FaceValueof Bond Price ofthe Bond Annual CouponPayment A $1,000 $850 $25 B $1,000 $950 $41 C $1,000 $1,100 $52 D $1,000 $1,100 $32 E $1,000 $1,000 $50 Refer to Exhibit 36-1. The yield on bond D is approximately
A. 11 percent. B. 3.2 percent. C. 2.9 percent. D. 0.03 percent
Which of the following is an example of the bandwagon effect?
A) A larger cellphone consumer group makes a cellphone service more attractive. B) The more people use Facebook, the more attractive it is to consumers. C) With more broadband services, more high-definition webpages become available. D) All of the above.
The law of diminishing marginal utility explains why the demand curve is downward sloping. The law states that as you consume more of a good, the
a. total satisfaction you obtain from consuming the good falls b. added satisfaction you obtain from consuming an additional unit of the good increases at a diminishing rate c. marginal product increases at a diminishing rate d. satisfaction you obtain from each additional unit of the good you consume falls e. total satisfaction you obtain from each additional good you consume decreases at a diminishing rate
The behavior of the monopolistic firm
A. maximizes the benefits to consumers, given the resources available to the economy. B. increases output in order to raise prices in the short term. C. results in excess capacity and inefficiency. D. results in entry into the market by other firms.