Crabs caught from an ocean are an example of a _____
a. common resource
b. club good
c. public good
d. private good
a
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The yield to maturity is ________ than the ________ rate when the bond price is ________ its face value
A) greater; coupon; above B) greater; coupon; below C) greater; perpetuity; above D) less; perpetuity; below
The above figure shows the payoff matrix for two firms, A and B, choosing to produce a basic computer or an advanced computer. The dominant strategy for firm A is
A) producing an advanced computer. B) producing a basic computer. C) copying firm B's action. D) Firm A does not have a dominant strategy.
Suppose that Tom bought a bike from Helen for $195. If Helen's reservation price was $185, and Tom's reservation price was $215, the total economic surplus from this transaction was:
A. $195 B. $30 C. $215 D. $185
Assume that a consumer has a given budget or income of $12, and that she can buy only two goods, apples or bananas. The price of an apple is $1.50 and the price of a banana is $0.75. Refer to the information given above. If the consumer decides to buy 4
apples, how many bananas can she also buy with the remainder of her budget? A. 8 bananas B. 4 bananas C. 6 bananas D. 10 bananas