Property rights that are granted to the creators of original work to produce and sell that work are called
A) trademarks.
B) copyrights.
C) patents.
D) exclusive franchises.
B
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A company's capital structure is made up of 40% debt and 60% common equity (both at market values). The interest rate on bonds similar to those issued by the company is 8%. The cost of equity is estimated to be 15%. The income tax rate is 40%
The company's weighted cost of capital is A) 11.5%. B) 12.2%. C) 10.9%. D) 8.9%.
The shutdown decision can be restated in terms of producer surplus by saying that a firm should produce in the short run as long as
A) revenue exceeds producer surplus. B) producer surplus is positive. C) producer surplus exceeds fixed cost. D) producer surplus exceeds variable cost. E) profit and producer surplus are equal.
When resources are allocated by markets, profits and losses provide information about
a.which products are priced too high and which are priced too low. b.which resources are being used productively and which resources should be allocated to other uses. c.which industries need to be subsidized and which need to be subject to additional regulation. d.which businesses should be taxed more heavily and which should be subsidized.
For a non-discriminating monopolist to sell one more unit, it must
A. lower the price of the last as well as all previous units produced. B. raise the price of only the last unit produced. C. lower the price of only the last unit produced. D. raise the price of the last as well as all previous units produced.