Refer to the table below. Busy Betty sells her cakes for $20 each and her constant marginal cost to produce each cake is $12, which is equal to her (constant) average total cost. What is her expected marginal benefit from holding the 20th cake in inventory?
The above table shows the probability distribution of cake sales at Busy Betty's Bakery.
A) $7.80
B) $8.00
C) $7.20
D) $12.80
C) $7.20
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Saving is a ________ variable, and wealth is a ________ variable
A) stock; flow B) stock; stock C) flow; flow D) flow; stock
All of the following would shift a product's demand curve except a(n): a. increase in the price of the product
b. decrease in consumer income. c. increase in the price of a substitute. d. increase in the price of a complement.
Which of the following is most likely to lead to demand-side inflation?
a. an increase in government spending b. a decrease in taxes c. an increase in the money supply d. All of the above are correct.
In the United States, consumers, businesses, governments, and foreigners participate in both the product and factor markets.
Answer the following statement true (T) or false (F)