Which of the following can a homebuyer pay for indirectly when purchasing a home?
A) good weather
B) a good school district
C) a nice view
D) all of the above
D
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Which of the following statements is true for both Microsoft and a locally owned restaurant?
A. Both confront perfectly elastic demand for their products. B. Both are perfect competitors. C. Neither firm is able to influence the price of their products. D. Both seek to maximize profits.
You are a hotel manager and you are considering four projects that yield different payoffs, depending upon whether there is an economic boom or a recession. The potential payoffs and corresponding payoffs are summarized in the following table.ProjectBoom (50%)Recession (50%)A$20-$10B-$10$20C$30-$30D$50$50Which project has the lowest expected value?
A. A B. B C. C D. D
One unpleasant cure for the U.S. trade deficit of the 1990s would be for foreigners who hold U.S. financial assets to demand
a. lower interest rates to stimulate U.S. growth rates. b. higher interest rates and generate a recession in the United States. c. higher interest rates and generate an appreciation of the dollar. d. lower interest rates and generate a depreciation of the dollar.
Suppose an industry is composed of 10 firms. Each firm's share of total sales in the industry is 10 percent. If two of the firms merge, then the four-firm concentration ratio in the industry is
A. 50 percent. B. 45 percent. C. 40 percent. D. unable to determine.