Refer to Scenario 9.6 below to answer the question(s) that follow. SCENARIO 9.6: Celeste borrowed $40,000 from her brother to open a car wash. She pays her brother a 5% yearly return on the money he lent her. Her other yearly fixed costs equal $18,000. Her variable costs equal $40,000. In her first year, Amy sold 40,000 car washes at a price of $2.50 per car wash.Refer to Scenario 9.6. Celeste's total costs equal
A. $20,000.
B. $40,000.
C. $60,000.
D. $100,000.
Answer: C
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Following the September 11, 2001, terrorist attacks, the managers of many hotels expected a prolonged period of reduced travel and responded by laying off workers and postponing or canceling new construction
Isadore Sharp, the chairman and CEO of Four Seasons Hotels, decided to A) curtail expansion plans, and by significantly cutting back on expansion was able to maintain the company's market share. B) continue expanding and the company ended up losing significant market share. C) curtail expansion plans and the company ended up losing significant market share. D) continue expanding and was able to maintain or enhance the company's market share.
What famous economist said, "By pursuing his own interest he (an individual) frequently promotes that of the society more effectually than when he really intends to promote it?"
a. Alfred Marshall. b. Adam Smith. c. Karl Marx. d. Robert L. Heilbroner.
The outcome of a competitive oligopoly:
A. is more efficient than that of a monopolist. B. is more efficient than that of a perfectly competitive outcome. C. is less efficient than that of a monopolist. D. is less efficient than that of colluding oligopolists.
How much is the multiplier?
