The accountants hired by the Brookside Racquet Club have determined total fixed cost to be $75,000 . total variable cost to be $130,000 . and total revenue to be $145,000 . Because of this information, in the short run, the Brookside Racquet Club should
a. shut down.
b. exit the industry.
c. stay open because shutting down would be more expensive.
d. stay open because the firm is making an economic profit.
c
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When the bond prices rise, interest rates fall.
Answer the following statement true (T) or false (F)
The demand curve for a normal good shifts leftward if income ________ or the expected future price ________
A) decreases; falls B) decreases; rises C) increases; falls D) increases; rises
The indifference map
A) shows that the consumer is indifferent among all consumption bundles. B) is an individual indifference curve. C) captures the same information as the utility function. D) is impossible to derive from the utility function.
Which of the following statements is true about the Medicaid program?
a. The law places a ceiling on state per capita spending for enrollees. b. The majority of total outlays are for the elderly and disabled. c. Eligibility standards are uniform across all states. d. Federal tax revenues provide 100 percent of the program's funding. e. Everyone in the poverty-level population is eligible for benefits.