The nature of a firm's cost (fixed or variable) depends on the
a. firm's revenues.
b. time horizon under consideration.
c. price the firm charges for output.
d. explicit but not implicit costs.
b
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In August 2007, Sun Trust Bank has $83 million in loans and $114 million in M1 deposits. If Sun Trust is holding $4 million in reserves, the bank's reserve ratio is
A) $31 million. B) 4.8 percent C) 3.5 percent. D) 72.8 percent.
When a business finds its obligations are ended,
a. all costs are variable costs b. this is the short run c. the market price of the output rises d. the marginal cost curve shifts up e. it may have to continue operations to minimize losses
A natural monopoly is characterized by the fact that its average costs increase rather than decrease when its output expands
a. True b. False Indicate whether the statement is true or false
Dewey earned a salary of $75,000 in 2001 and $95,000 in 2006 . The consumer price index was 177 in 2001 and 266 in 2006 . Dewey's 2006 salary in 2001 dollars is
a. $47,768.36. b. $63,214.29. c. $84,550.00. d. $142,768.36.