The high cost of advertising during the Super Bowl will
A) not affect the efficient level of output because advertising is a sunk cost.
B) will affect the efficient level of output because profits will fall significantly.
C) not affect the efficient level of output because advertising is a fixed cost.
D) Not enough information given.
A
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Since the early 1960s, the percentage of Americans who are obese;
a. has decreases due to the increased emphasis on physical fitness b. has decreased due to the increased emphasis of healthy diets c. has increased by more than double d. both a. and b.
Which of the following is NOT one of features characterizing market structures?
A. the level of capital investment in research and development B. the degree of product differentiation C. the number and size of firms D. the likelihood of new firm's entering a market
The primary functions of money are:
A. velocity, liquidity, and transactions. B. speculative demand, measure of value, and precautionary demand. C. a medium of exchange, a unit of account, and a store of value. D. a store of value, heterogeneity, and a medium of exchange.
A firm earns a profit if
A. price equals marginal cost. B. total revenue exceeds the total cost of production. C. price is less than the total cost of production. D. total revenue equals total fixed costs.