An example of fixed investment spending is
A) the purchase of a new apartment building by a property management company.
B) the purchase of corporate bonds by Microsoft Corporation.
C) the purchase of a new wood chipper by a landscape maintenance company.
D) $4 million in unsold furniture at a home furnishings manufacturer.
C
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Economists often refer to games with more than three players as
A) complex games. B) n-player games. C) games of infinity. D) global games.
A fishing boat owner sells her entire catch of 20,000 fish and maximizes profit that is equal to $7,000 . Suppose fish prices increase and you are asked to calculate her profit knowing that she now sells 30,000 fish. If fish prices increased by $3 per fish, what can you say about her new profit level?
a. profit > $90,000 b. profit < $97,000 c. profit < $90,000 d. profit > $67,000 e. profit > $10,500
The derived demand curve for an input is the MPP curve.
Answer the following statement true (T) or false (F)
Consider a U-shaped long-run average cost curve that has a minimum efficient scale at 6,000 units of output. In this case, this industry would be
A) perfectly competitive if the market quantity demanded is 20,000 units. B) monopolistically competitive if the market quantity demanded is 12,000 units. C) an oligopoly if the market quantity demanded is 18,000 units. D) an oligopoly if the four-firm concentration ratio is more than 10 percent.