If the price of milk shakes was $3.00 each, your consumer surplus would be
Demand and Utility Table for Milk Shakes
A. $10.50.
B. $6.00.
C. $3.50.
D. $1.50.
D. $1.50.
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Based on the information in the table, we can conclude that, in 1932, each of the following events occurred except: Currency held by public(in billions)Reserve-deposit ratioBank reserves (in billions)Money supply (in billions)December 1931$4.590.095$3.11$37.3December 1932$4.820.109$3.18$34.0
A. Banks were keeping more of their deposits in reserves, and making fewer loans. B. The Federal Reserve injected reserves into the banking system. C. The Federal Reserve conducted open-market sales of U.S. government bonds. D. The public increased the amount of currency it held.
A machine cost $15,000 to install, and has a resale value one year later of $12,000. If the real interest rate is 10%, then the user cost of capital is ________
A) $4,500 B) $1,500 C) $3,000 D) $1,200
The unemployment rate includes
A. people who have given up looking for work. B. people who are not employed but actively seeking work. C. people who are not working in order to stay at home with children. D. people not working because they are in school.
Explain the difference between a firm's revenue and its profit
What will be an ideal response?