Three landscapers, Allen, Betty, and Christina, are visiting the lawn and garden supply store. Allen is choosing between a mower with a 40-inch blade and a mower with a 28- inch blade. Betty is picking up her mower, which was in for scheduled maintenance. Christina is putting up a For Sale sign advertising her equipment and list of customers. Who is operating in the long run?
a. Allen and Christina
b. Betty and Christina
c. Allen only
d. Betty only
e. Christina only
A
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One hundred percent reserve banking refers to a situation in which banks' reserves equal One hundred percent of their
A. loans. B. income. C. profits. D. deposits.
You pay $15 for an all-you-can-eat buffet. The food isn't so good, but definitely edible. When you finish eating, what is the marginal value of the last bite of food you consumed?
A) zero B) $15 C) positive D) negative
Under a regulatory fair price,
a. price is driven to zero b. revenues would just be sufficient to cover costs c. price is set equal to marginal revenue d. profit is set at the monopoly level e. revenues would be set equal to marginal cost
All of the following are real quantities except the:
A. millions of computer chips shipped to computer makers. B. tons of steel shipped to South America. C. billions of dollars invested in stocks. D. number of new cars produced in one year.