Which of the following correctly describes actions of the U.S. government during the recession of 2008-2009?
a. It refused to provide banks funding and made no significant changes in government spending.
b. It refused to provide banks funding but made a large increase in government spending.
c. It became part owner of some banks but made no significant change in government spending
d. It became part owner of some banks and made a large increase in government spending.
d
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Suppose Island Bikes, a profit-maximizing firm, is the only bike rental company in a small resort town. The marginal cost to Island Bikes of renting out a bike is $3, and Island Bikes has no fixed costs. Each day Island Bikes has six potential customers, whose reservations prices are listed below.CustomerReservation Price($/Rental)A22B16C12D8E6F4 Suppose Island Bikes knows that customers whose reservation prices are at least $10 always rent bikes before noon, while those whose reservation prices are below $10 never do so. If Island bikes can charge a different price in the morning and in the afternoon, then in the afternoon, it will rent out ________ bike(s) and charge ________ per bike.
A. 5; $10 B. 1; $8 C. 3; $4 D. 2; $6
A measure defined per unit of time is called a(n) ________ variable.
A. stock B. aggregate C. flow D. nominal
If price exceeds average variable cost but is less than average total cost, a firm
A) should shut down. B) should further differentiate its product. C) should stay in business for a while longer until its fixed costs expire. D) is making some profit but less than maximum profit.
The outcome of the game in the figure shown predicts that Starbucks will earn profits of:
This figure displays the choices being made by two coffee shops: Starbucks and Dunkin Donuts. Both companies are trying to decide whether or not to expand in an area. The area can handle only one of them expanding, and whoever expands will cause the other to lose some business. If they both expand, the market will be saturated, and neither company will do well. The payoffs are the additional profits (or losses) they will earn.
A. $2 million.
B. $1 million.
C. $0 million.
D. $2 million.