Which of the following is an example of a common resource?
A) elephants in the wild B) lions in a zoo
C) public transportation D) a college education
A
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When gross investment is greater than depreciation, then the nation's capital stock increased
Indicate whether the statement is true or false
Suppose a monopoly firm has an annual demand function of Qd = 20,000 - 250P, annual variable costs of VC = 16Q + 0.002Q2 and marginal cost of MC = 16 + 0.004Q, where Q is the annual quantity of output. In addition, the firm has an avoidable fixed cost of $25,000 per year. If this firm maximizes its profit, what is the value of the deadweight loss caused by this monopoly?
A. $242,000 B. $55,250 C. $30,250 D. $5,250
In order for the balance of payments to balance,
a. the current account balance must equal the capital account balance b. international reserves must flow out of the country c. international reserves must flow into the country d. the current account balance plus the capital account balance plus the net flow of international reserves plus the statistical discrepancy must equal zero e. the current account balance plus the capital account balance plus the net flow of international reserves must be greater than the statistical discrepancy
If you, as sole proprietor of a corner grocery store, work 15 hours per day, six days a week but do not take a money wage payment, then the cost to your firm of your labor is your
a. opportunity cost and is considered an explicit cost b. opportunity cost and is considered an accounting cost c. opportunity cost and is considered an implicit cost d. explicit cost and is considered an opportunity cost e. implicit cost even though it is considered an explicit cost