A pizza business has the cost structure described below. The firm's fixed costs are $20 per day. What are the firm's marginal costs at an output of 35 pizzas?
a. $0.57
b. $4.00
c. $9.20
d. $230.00
b. $4.00
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The following is not an example of adverse selection
a. you lock your garage when you have expensive workshop tools b. you are less careful when you buy a more expensive car c. Individuals tend to gamble more with their money when the future is certain d. you only go swimming when the lifeguard is on duty
Which of the following is a valid statement?
a. Required reserve ratio = required reserves as a percentage to total deposits. b. Required reserves = the maximum reserves required by the Fed. c. Excess reserves = total reserves plus required reserves. d. All of these.
Medigap policies are designed to offer
a. coverage for Part D out-of-pocket spending. b. catastrophic coverage for costs that exceed traditional Medicare's out-of-pocket maximum. c. long-term care coverage for the elderly. d. coverage for dental and vision care. e. first dollar coverage for out-of-pocket spending on deductibles and coinsurance.
Business managers are people who:
A. entertain the workers. B. own the physical capital used in production. C. run businesses on a day-to-day basis. D. engage exclusively in business travel.