A payment of $105 next year can be more valuable than a payment of $100 now
a. True
b. False
A
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Refer to Figure 13-4. What is the area that represents the loss made by the firm?
A) the area P1bcP2 B) the area P0acP2 C) the area P2cdP3 D) the area P0adP3
Suppose there are seven firms in a market where the three largest firms supply 20% of the market-clearing quantity and the other four firms supply 10% of the market-clearing quantity. What is the five-firm concentration ratio (i.e
, the share of total sales controlled by the five largest firms in the market)? A) 60% B) 70% C) 80% D) 90%
Using the above figure, at which price is there neither excess quantity demanded nor excess quantity supplied?
A) P1 B) P2 C) P3 D) none of these
Many people assert that the national debt is not a problem because "we owe it to ourselves." Is this true?