Linda earned an income of $3,000 per month which has now increased to $3,500 per month. She saves 10 percent and spends the remainder on food, lodging and other expenses. So far, she has managed to save $20,000. What is her disposable income after the increase?
What will be an ideal response?
$3,500
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The accountant for Muzhi's Sushi claims that Muzhi has accomplished "technological efficiency." This means that Muzhi's Sushi
A) produces a given output using the least inputs. B) produces a given output at the lowest cost. C) has an economic profit greater than a normal profit. D) has a normal profit greater than an economic profit.
If Firm A and Firm B are playing a finitely repeated game in which they both believe there is a 90 percent chance that the game will continue each period, all of the following are true except which one?
A) There is not an end-game problem. B) Both firms can earn higher profit by cooperating. C) Both managers will worry about punishment from cheating. D) Tacit collusion is not possible.
In the three months before a $1 per pack cigarette tax took effect in Alaska, smokers bought 175 million more cigarettes than during the same period a year earlier. What explains this behavior by consumers?
In a market with a binding price control, a. there is an imbalance between the quantity supplied by sellers and the quantity demanded by buyers. b. the costs of production are fully reflected in the price paid
c. the price observe reflects the scarcity of the good. d. all of the above are true.