In 2012, net worth was about what percentage of total funds raised by banks?
A) 2%
B) 7%
C) 13%
D) 35%
C
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The balance of trade is derived by subtracting merchandise imports from merchandise exports
Indicate whether the statement is true or false
As a group, oligopolists would always be better off if they would act collectively
a. as if they were each seeking to maximize their own individual profits. b. in a manner that would prohibit collusive agreements. c. as a single monopolist. d. as a single perfectly competitive firm.
Which one of the following is not a barrier to an efficient allocation of resources?
a. Equity considerations b. Free rider effects c. Transactions costs d. Holdout effects e. Poorly defined property rights
A monopoly produces X at a marginal cost of $20 per unit and charges a price of $50 per unit. Determine the elasticity of demand at the profit-maximizing price of $50.
A. ?0.5 B. .67 C. ?.6 D. There is insufficient information to determine the monopoly's price elasticity of demand.