The formula for an infinite sum is:
A. 1 + b + b2 + b3 + b4 + ... = 1 / b.
B. 1 + b + b2 + b3 + b4 + ... = 1 / (1 + b).
C. 1 + b + b2 + b3 + b4 + ... = 1 / (1 - b).
D. 1 + b + b2 + b3 + b4 + ... = b / (1 - b).
Answer: C
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A) Productive efficiency B) Equality C) Allocative efficiency D) Equity
Do interest rates fluctuate in response to the Fed's actions?
What will be an ideal response?
In response to a cost-reducing technological breakthrough in the production of its product, a profit-maximizing monopolist will normally:
A. decrease the price it charges for its product. B. increase its output and practice price discrimination. C. increase price and decrease production. D. not change its level of output or price.
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A) a line sloping down from upper right to lower left. B) a line sloping down from upper left to lower right. C) a line sloping up from lower left to upper right. D) a line sloping up from lower right to upper left.