A perfectly competitive firm's short-run break-even output occurs
A) at the minimum point of its average variable cost curve.
B) at the minimum point of its average total cost curve.
C) at the minimum point of its marginal cost curve.
D) at the intersection of its total cost curve and its marginal revenue curve.
Answer: B
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Default risk
A) is the probability that a borrower will not pay in full the promised coupon or principal. B) exists only for the bonds of small corporations. C) is also known as market risk. D) is zero for bonds issued by cities and states.
Which of the following types of mergers are of greater concern as being anticompetitive among antitrust regulators?
a. Horizontal mergers b. Vertical mergers c. Conglomerate mergers d. Horizontal, vertical and conglomerate mergers are of equal concern as being anticompetitive
Which one of the following statements about public debt is most accurate?
a. Because rich and poor people hold government bonds, they are equally affected by the debt. b. Wealthy people are more likely to hold government bonds, and so they are less likely to be adversely affected by the debt c. Wealthy people are less likely to hold government bonds, and so they are more likely to be adversely affected by the debt. d. Poor people are more likely to hold government bonds, and so they are more likely to be adversely affected by the debt. e. Poor people are less likely to hold government bonds, and so they are less likely to be adversely affected by the debt.
It can be shown that average revenue and price are always equal
a. True b. False Indicate whether the statement is true or false