An e-book that sells new for $200 will typically be sold back to the bookstore "used" for
A. nothing (it can't be re-sold).
B. $100.
C. $75.
D. $50.
Answer: A
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The potential for a financial breakdown at one financial institution to spread throughout the financial system is known as a
A) lending risk. B) systemic risk. C) moral hazard. D) liquidity risk.
Assume that a purely competitive firm uses two resources, labor (L) and capital (C), to produce a certain product. In which situation would the firm be maximizing profit?
A. Case A
B. Case B
C. Case C
D. Case D
Refer to the given data. The firm is hiring labor:
Use the labor demand data on the left and the labor supply data on the right in answering the following question:
A. at a wage rate that exceeds labor's MRP.
B. under purely competitive conditions.
C. in an imperfectly competitive market.
D. as a monopsonist.
Refer to Figure 23-2. Suppose that the level of GDP associated with point N is potential GDP. If the U.S. economy is currently at point K,
A) firms are operating above capacity. B) the economy is in recession. C) the level of unemployment is equal to the natural rate. D) the economy is at full employment.