Refer to the table above. If the rental price of machines is $40 per day, up to how many machines should the firm rent to maximize profits?
A) 2
B) 4
C) 6
D) 7
D
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An increase in demand will cause the demand curve to
a. move to the right. b. move to the left. c. become more vertical. d. become more horizontal.
The margin requirement set by the Federal Reserve is the
A) proportion of the purchase price of a security that an investor must pay in cash. B) difference between the interest rate banks may charge on loans and the interest rate they receive from deposits. C) same thing as the required reserve ratio on deposits. D) difference banks must maintain between the value of their assets and the value of their liabilities.
The point at which buyers and sellers "agree" on the quantity of a good they are willing to exchange at a given price is called:
A. equilibrium. B. optimization. C. maximization. D. market collapse.
One could argue that price ceilings should not be placed on the goods sold at the high price "Quick Stop Shop" stores for all of the following reasons except:
a. cash price is not true price b. convenience has a value c. time has a value d. the price of gasoline sold at the store is already controlled e. check out is fast at the "Quick Stop Shop"