The marginal cost and total revenue of a firm are $5 and $275, respectively. The reservation value of the seller in this case is ________
A) $0
B) $5
C) $55
D) $275
B
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If the Fed raises the inflation rate and initially expected inflation does not change, in the short run the unemployment rate ________ the natural unemployment rate, and in the long run the unemployment rate ________ the natural unemployment rate
A) is larger than; equals B) is less than; equals C) is less than; is larger than D) is less than; is less than E) is larger than; is larger than
A credit union is an example of a financial intermediary
a. True b. False
Public choice analysis indicates that politicians will find
a. budget deficits more attractive than budget surpluses. b. budget surpluses more attractive than budget deficits. c. budget deficits attractive during an economic boom, but surpluses attractive during a recession. d. tax increases more attractive than increases in government spending.
What does the maturity of a bond indicate?