At very low levels of disposable income
A. saving is negative.
B. saving is very high.
C. consumption is negative.
D. consumption is a very small part of income.
A. saving is negative.
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Dee's TV Repair is the only TV repair shop in a small town. Dee is a single-price monopolist. Based on the demand and cost information in the table above, what quantity of TV repairs should Dee undertake?
A) 0 per week B) 10 per week C) 20 per week D) 30 per week
________: the number of units of foreign currency that can be exchanged for one unit of domestic currency
Fill in the blank(s) with correct word
A small business owner earns $50,000 in revenue annually. The explicit annual costs equal $30,000. The owner could work for someone else and earn $25,000 annually. The owner's business profit is ________ and the economic profit is ________
A) $20,000; $5,000 B) $20,000; -$5,000 C) $25,000; -$5,000 D) $45,000; -$5,000
________ are not a barrier to entry.
A. Consent decrees B. Government franchises C. Patents D. Economies of scale