It pays the firm to produce only if total variable costs exceed total revenue.
Answer the following statement true (T) or false (F)
False
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Answer the following statement(s) true (T) or false (F)
1. If the nominal value of a benefit in 2011 is $1,500, its real value in 2012, assuming a 3 percent inflation rate, is $1,545. 2. If the real value of an environmental cost in 2011 is $2,500, its nominal value in 2010, assuming a 2 percent inflation rate, must have been $2,550. 3. The present value of benefits (PVB) is equal to?(bt/[1+rs]t), with bt= Bt/(1 + p)t. 4. For a given policy option, if the ratio of the present value of benefits (PVB) to the present value of costs (PVC) is greater than zero, that policy option is considered to be feasible. 5. For a given policy option, if (PVB – PVC) is greater than 1, that policy option is considered to be feasible.
Holding all else constant, if the U.S. government restricts capital outflows, then the equilibrium value of the U.S. dollar will:
A. appreciate B. remain fixed. C. depreciate. D. be determined by the Federal Reserve.
If an increase in the price of Good A causes a decrease in demand for Good B, Goods A and B are said to be complements
a. True b. False Indicate whether the statement is true or false
Suppose you notice that when a particular firm raised the price of its product, its total revenue also increased. What does this imply about the price elasticity of demand for this firm’s product and wha factors may be influencing the elasticity?