When calculating the cost of college, which of the following should you probably not include?
a. The cost of tuition
b. The cost of books required for college classes
c. The income you would have earned had you not gone to college
d. The cost of rent for your off-campus apartment.
d
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Which of the following is correct when the perfectly competitive firm is producing its long-run equilibrium output level?
a. MR equals MC. b. AR equals ATC. c. P equals MC. d. All of these.
In the Baumol model, a change in fixed costs will
A) increase total quantity sold. B) have no effect on total quantity sold. C) decrease total quantity sold. D) have an effect on total quantity sold.
Table 10.1 shows the cash flows and discounted cash flows for three mutually exclusive projects available to a company. Assume an interest rate of 5%. Which project has the shortest payback period?
A. Project A
B. Project B
C. Project C
D. It cannot be determined from the information given.
Voluntary exchange results in mutual gains
a. True b. False Indicate whether the statement is true or false