If you were going to evaluate the how much money you will have after ten years of saving $100 per month, which Excel function would help you calculate it?
A. FV
B. Profit
C. PMT
D. Invest
Answer: A
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The saying that "You cannot have your cake and eat it too" illustrates the economic concept of
A) a positive statement. B) a normative statement. C) physical capital. D) opportunity cost.
In the long run in perfect competition, firms will operate at
a. minimum average total cost. b. an average total cost that is just slightly above the minimum. c. an average total cost that is about 10% above the minimum. d. an average total cost that is below price.
Automobile manufacturers often use incentive programs, including special financing rates and cash rebates, to increase sales. However, a customer is usually restricted to choosing either the low financing rate or the rebate, but not both
Is this an example of price discrimination? If so, what type? Explain your reasoning.
A change in the distribution of income which leaves total income constant will not shift the market demand curve for a product if
a. everyone has an income elasticity of demand of zero for the product. b. everyone has the same income elasticity of demand for the product. c. individuals have differing income elasticities for the product, but the average income elasticity for income gainers is equal to the average income elasticity for income losers. d. any of the above conditions occur.