Refer to the graph below for an industry. If the industry were purely competitive, the output quantity would be:
A. 90
B. 160
C. 195
D. A level that is not labeled in the graph
B. 160
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If a $500 tax is placed legally (statutorily) on the buyers of new couches and as a result the price of couches at stores rises by $200, the actual burden of the tax
a. falls completely on couch buyers. b. falls completely on couch sellers. c. is $200 on couch buyers and $300 on sellers. d. is $300 on couch buyers and $200 on sellers.
According to the efficient market hypothesis, which of the following statements is not correct?
a. Stock market prices tend to rise today if they rose yesterday. b. As judged by the typical person in the market, all stocks are fairly valued all the time. c. At the market price, the number of shares being offered for sale matches the number of shares people want to buy. d. All of the above statements are incorrect.
The data below relates to a pure monopoly and the product it produces. What is the profit-maximizing output and price for this firm?
A. P = $15; Q = 3
B. P = $12; Q = 5
C. P = $18; Q = 2
D. P = $14; Q = 4
Assume you are planning to invest $200 each year for four years and will earn 8 percent per year. Determine the future value of this annuity due problem if your first $200 is invested now.