The federal funds market is the market in which:
a. banks borrow from the Fed.
b. bank customers borrow from their banks
c. banks borrow from each other.
d. the federal government borrows from the Fed.
e. the federal government borrows from members of the general public.
c
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Marginal cost is defined as
a. ?Q/?TC b. TC /Q c. ?TC/?Q d. Q/TC
In two-part pricing with identical consumers, a firm at least
A) charges a lump-sum fee equal to the producer surplus. B) sets unit price equal to marginal cost. C) cannot maximize profit compared to single-price monopoly pricing. D) Both A and B.
Which of the following would cause a decrease in the demand for film?
a. a decrease in the price of film processing b. an increase in the price of film c. an increase in income of camera users d. an increase in the price of cameras e. an increase in supply of cameras
Suppose a U.S. government program subsidizes the production of domestic sugar producers and places a tariff (tax) on the importation of sugar from other countries. This program
a. helps the producers of sugar, but increase the opportunity cost of obtaining it. b. promotes the production of goods that consumers value highly relative to cost. c. creates wealth, because the government is providing the subsidies and imposing the tariffs. d. will reduce the opportunity cost of obtaining sugar and therefore lead to lower sugar prices.