Refer to Figure 2-18. Which two arrows in the diagram depict the following transaction: Barney earns $250 for selling scissors and razors to Floyd's Barber Shop
A) J and M B) K and G C) K and M D) J and G
A
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Incompleteness of a contract can be considered boundedly rational if at the time the parties draft the agreement they do not know how they can best react to certain contingencies
Indicate whether the statement is true or false
Jordan has the following assets and liabilities:Two cars$10,000House$200,000Mortgage$100,000Cash$1,000Car loans$3,000Checking account balance$2,000Credit card balance$1,000 What is the value of Jordan's assets?
A. $317,000 B. $213,000 C. $109,000 D. $203,000
Which of the following is NOT true at the equilibrium quantity of GDP demanded?
What will be an ideal response?
Refer to Scenario 9.8 below to answer the question(s) that follow. SCENARIO 9.8: Investors put up $1,040,000 to construct a building and purchase all equipment for a new gourmet cupcake bakery. The investors expect to earn a minimum return of 10 per cent on their investment. The bakery is open 52 weeks per year and sells 900 cupcakes per week. The fixed costs are spread over the 52 weeks (i.e. prorated weekly). Included in the fixed costs is the 10% return to the investors and $2,000 in other fixed costs. Variable costs include $2,000 in weekly wages, and $600 per week in materials, electricity, etc. The bakery charges $8 on average per cupcake.Refer to Scenario 9.8. Total variable costs per week are
A. $600. B. $1,000. C. $2,600. D. $4,000.