The least liquid of the following assets is
a. cash in the hands of the public
b. time deposits
c. savings accounts
d. travelers' checks
e. demand deposits
B
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Refer to the table below. If the attorney reviews 51 patents, what is the expected marginal benefit of reviewing the 51st patent?
The above below shows the quantity of patents reviewed by a firm's attorney and the corresponding probability that the firm will infringe on another firm's patent. The cost of infringement is $50,000.
A) -$40,000
B) $4,000
C) -$4,000
D) $40,000
A firm that is losing money may consider shutting down. Why would the firm still face losses in the short run?
a. It will still need to pay variable costs. b. It will no longer have income. c. It has already paid for fixed costs. d. It will not still face losses.
When graphed, total fixed cost will
a. slope upward to the right at a constant positive slope b. first decrease and then increase c. first increase and then decrease d. slope down forever e. be a horizontal line
A market surplus can be defined as a situation in which the quantity demanded in a market is less than the quantity supplied, at the given price.
a. true b. false