What is the discounted value of $60,000 to be received after six years, if the ongoing rate of interest is 6% per annum?
A) $41,212.84
B) $42,297.63
C) $44,666.95
D) $51,220.64
B
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Which of the following goods will have the most elastic demand at any time?
A. Coffee B. Gasoline C. Restaurant meals D. Insulin
If an industry's long-run per-unit costs decrease as its output increases then
A) the firm's long-run economic profits must be less than zero. B) the firm is most likely a decreasing-cost industry. C) the firm is most likely an increasing-cost industry. D) the firm is most likely a constant-cost industry.
Labor cost on an average accounts for about _____ percent of the total cost of production
a. 10 b. 30 c. 50 d. 70 e. 98
A decrease in the wage rate is represented as an upward movement along the labor supply curve
a. True b. False Indicate whether the statement is true or false