Diminishing marginal product:
A. causes the variable cost curve to become flatter.
B. causes the variable cost curve to become steeper.
C. has no relation to the variable cost curve.
D. causes the fixed cost curve to become flatter.
A. causes the variable cost curve to become flatter.
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Are there real-world markets that resemble double oral auctions? Suppose you had to organize a double oral auction for a good that has perfectly elastic demand. Do you expect prices to approach the competitive equilibrium?
What will be an ideal response?
Assume that a one-year Malaysian bond yields 10 percent interest and that the dollar return on maturity is 5 percent. If the exchange rate at maturity is $1 = MYR 4.00 (Malaysian ringgit), what was the exchange rate at the time the bond was purchased?
a. $1 = MYR 4.2 b. $1 = MYR 3.8 c. $1 = MYR 3.6 d. MYR 1 = $0.26 e. MYR 1 = $0.4
Investing in additional education and _________ are more likely to result in accumulating sufficient personal wealth to be able to retire relatively comfortably, but these require effort, patience, and sacrifice.
a. accurately predicting the market b. investing in gold and other precious metals c. investing in random walk bonds d. starting to save early in life
Which of the following observations is not true?
a. Money is divisible. b. The value of money never remains the same. c. Money has an intrinsic value. d. Money is the most liquid form of asset.