Which of the following is the definition of a capital gain?
a. An increase in a firm's capital stock
b. Profit earned from selling a financial asset
c. The dividend earned from a company's stock
d. Taxes saved by selling a share of corporate stock
e. The profit earned by a corporation
B
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The marginal revenue curve facing a monopolistically competitive firm
A) lies on its demand curve. B) lies above its demand curve. C) lies below its demand curve. D) is equal to its price curve. E) is parallel to its demand curve.
If a firm has a monopoly in both the production and distribution of a product and the managers of both the production and distribution divisions maximize profits, all of the following are true except which one?
A) A successive monopoly will occur within the firm. B) The firm will maximize its total profit. C) The manager of one of the divisions should be instructed to maximize profit and the manager of the other division should be instructed to operate as a perfectly competitive firm. D) Double marginalization will occur within the firm.
Use the above table. Which of the following is TRUE if real disposable income is $150?
A) APC is less than MPC. B) APC = 0.8. C) APS = 0.2. D) APS is less than MPS.
Which of the following will not cause a demand curve to shift position?
a. A doubling of the good's price. b. A doubling of the price of a closely substitutable good. c. A doubling of income. d. A shift in preferences. e. A doubling of both the price of X and the price of Y.