The Resolution Trust Corporation was created by the FIRREA in order to
A) manage and resolve insolvent S&Ls.
B) build up trust in government regulation.
C) regulate the S&L industry.
D) purchase large amounts of government debt.
A
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If a monopolist has no marginal costs and only recurring fixed costs, then, if he produces, any quantity that he produces is profit maximizing if the price elasticity of market demand is -1.
Answer the following statement true (T) or false (F)
A rise in the price of a product lowers the total revenue from the product if the
A) income elasticity of demand exceeds 1. B) good is an inferior product. C) demand for the product is inelastic. D) demand for the product is elastic.
Suppose a competitive firm is paying a wage of $12 an hour. Assume that labor is the only input. If hiring another worker would increase output by four units per hour, then to maximize profits the firm should
A) layoff some workers. B) not change the number of workers it currently hires. C) hire the extra worker. D) There is not enough information to answer the question.
The slope of a curve at any point is given by this formula:
A. The change in y coordinates between two points divided by the change in their x coordinates. B. The percentage change in x coordinates between two points divided by the percentage change in their y coordinates. C. The percentage change in y coordinates between two points divided by the percentage change in their x coordinates. D. The change in x coordinates between two points divided by the change in their y coordinates.