If the interest rate is 4 percent, the present value of $500 received at the end of four years is:
A. $432.68.
B. $427.40.
C. $431.71.
D. $416.41.
Answer: B
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The tragedy of the commons can be solved by:
a. turning the good into a public good b. government regulation or taxation to prevent overconsumption c. both of the above d. neither of the above
Average revenue is:
A. marginal revenue minus marginal cost. B. total revenue divided by the quantity of output. C. total revenue minus total cost. D. marginal revenue divided by the quantity of output.
An industry consists of four firms with annual sales of $300, $500, $400, and $600, respectively. What is the industry's HHI?
A. 2,654 B. 10,000 C. 1,659 D. There is not sufficient information to compute the industry HHI.
Which of the following is a short-run adjustment?
A. Three new firms enter the computer chip industry. B. A firm hires six new workers. C. The number of farms in Kansas increases by 10%. D. A firm opens two new plants.