Refer to the information provided in Figure 15.3 below to answer the question(s) that follow.  Figure 15.3 Refer to Figure 15.3. In the short run, this company is ________, and in the long run, it should expect to ________.

A. suffering a loss; shut down
B. suffering a loss; break even
C. breaking even; break even
D. making a profit; break even


Answer: D

Economics

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Economics

Assuming bottled water and cola are substitutes, if the price of bottled water rises

A. the demand curve for cola will shift to the right. B. there is a movement along the demand curve for cola. C. the demand curve for bottled water will shift to the right. D. the demand curve for bottled water will shift to the left.

Economics

Refer to the diagrams that show identical marginal utility from income curves for Singer and Catalano. The marginal utility from income curves are drawn on the assumption that:



A.  Singer buys more inferior goods than does Catalano.
B.  Singer and Catalano have identical capacities to enjoy income.
C.  Catalano has a greater capacity to enjoy income than does Singer.
D.  Singer has a greater capacity to enjoy income than does Catalano.

Economics

If the quantity of money demanded is greater than the quantity supplied, then in the short run the

A) demand for financial assets increases. B) price of financial assets rises. C) nominal interest rate rises. D) nominal interest rate falls. E) price level rises.

Economics