Bobbie is contemplating buying a lottery ticket for $1 that has a 1 percent chance of paying $100. What is Bobbie's average expected rate of return on this "investment?"
A. Practically zero percent.
B. 1 percent.
C. 50 percent.
D. $1.
A. Practically zero percent.
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If the baseball team can sell 6000 box-seat tickets when they set the price at $10 and 7000 box-seat tickets when they lower the price to $8, the marginal revenue per ticket between 6000 and 7000 tickets is
A) $60,000. B) $56,000. C) $9. D) $2. E) minus $4.
If you use $1,000 to purchase silver bullion, which you plan to keep in a safe, you are using money as:
A. a store of value. B. a unit of account. C. bank reserves. D. a medium of exchange.
Assume that Spain will either specialize in producing cars or TVs. What is their opportunity cost of producing 8 TVs?
Exhibit 11-8 A labor market
If the labor market shown in Exhibit 11-8 is competitive, the wage rate and number of workers employed will be determined at point:
?
A. F. B. B. C. C. D. D.