Skeeter's Skeeball Castle has seen its business slow down ever since Kerrie's Off-Key Karaoke opened up next door. Since the opening of Kerrie's Off-Key Karaoke, the opportunity cost of playing skeeball at Skeeter's has
A) decreased.
B) increased.
C) fallen to zero.
D) not changed.
Answer: B
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A) lowers; rises B) lowers; falls C) raises; does not change D) raises; falls E) Not enough information is given because the effect depends also on the size of the monetary base.
Refer to the figure above. What is the consumer surplus when the market is perfectly competitive?
A) $30 B) $60 C) $90 D) $180
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a. To pay the pickers per pound of apples picked b. To pay the pickers an hourly rate c. To pay the pickers an hourly rate plus a bonus d. To not pay the pickers
What is the standard deviation of the payoff from an investment that yields $1,000,000 with a probability of 0.001 and $0 with a probability of 0.999?
A. $998,001,000 B. $999,000 C. $316.07 D. $31,606.96