The firm in the figure above has a total cost equal to ________
A) $5.10 × 10
B) $8.00 × 10
C) ($5.10 - $8.00 ) × 10
D) ($8.00 - $5.10 ) × 10
E) None of the above answers is correct because more information is needed.
A
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The Hatfields and the McCoys both earn $50,000 per year in real terms in the labor market, and both families are able to earn a 5% real interest rate on their savings. In the year 2010, both families began to save. The Hatfields saved 8% of their income each year; the McCoys saved 10%. In 2010, the Hatfields consumed ________ more than the McCoys; in 2011, the Hatfields consumed ________ than the McCoys.
A. $1,000; about $960 less B. $1,000; about $960 more C. $2,000; about $960 more D. $2,000; about $960 less
The price for used cars is well below the price of new cars of the same general quality. This is an example of:
a. The Degree of Operating Leverage b. A Lemon's Market c. Redeployment Assets d. Cyclical Competition e. The Unemployment Rate
Discuss some of the reasons why monopoly power is considered undesirable.
What will be an ideal response?
Opportunity cost is:
A) zero for the use of a free combo meal offer. B) the dollar payment for a product. C) the benefit derived from a product. D) the value of the best alternative forgone in making any choice.