Kevin owns a personal training gymnasium in Orlando. The above figure shows the demand and cost curves for his firm, which competes in a monopolistically competitive market. Kevin will train how many clients per day?
A) 4
B) 6
C) 10
D) between 2 and 4
E) None of the above answers is correct.
A
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The economic analysis of extending the duration of unemployment benefits to 99 weeks involves both positive and normative analysis. Consider the following consequences of extending the duration of unemployment benefits:
a. Extending the duration of unemployment benefits to 99 weeks will create less incentive for some unemployed workers to seek employment. b. Extending the duration of unemployment benefits to 99 weeks will increase the total amount of government expenditure on unemployment benefits. c. The benefits received by those collecting unemployment benefits should be valued more highly than the increase in government expenditure needed to pay the benefits. d. By extending the duration of unemployment benefits to 99 weeks, the unemployed will have more time to acquire new skills before reentering the workforce. Which of the consequences above are positive statements and which are normative statements? A) a and b are positive statements; c and d are normative statements. B) Only b is a positive statement; a, c, and d are normative statements. C) a and d are positive statements; b and c are normative statements. D) a, b, and d, are positive statements; only c is a normative statement.
Refer to the table below. What is the value of A plus B (A + B) or the present value of the first two payments?
The above table shows a 5 year payment plan. Each payment is made at the end of the year, so after one year, a payment of $1,000 is made, after two years another payment of $1,500 is made and so on. The interest rate is 3 percent.
A) $970.87
B) $1,956.12
C) $2,384.77
D) $2,256.98
The marginal propensity to consume (MPC) is computed as the change in:
a. consumption divided by the change in savings. b. consumption divided by the change in income. c. consumption divided by the change in GDP. d. None of these.
The Federal Reserve District bank charged with buying and selling United States government securities is the __________ Bank.
Fill in the blank(s) with the appropriate word(s).