When shopping for a ticket to see One Direction, her favorite band, in concert, Annie mistakenly purchased a non-refundable ticket to the off-off-off Broadway play "One Dissection," which she has no interest in seeing. Because the ticket cost her $100, Annie decides to think about it:
A. rationally and skips the play and spends another $100 on the concert ticket.
B. rationally and sits through the play she has the ticket for, which is as awful as she thought it might be.
C. irrationally and skips the play and spends another $100 on the concert ticket.
D. None of these is a possible outcome.
A. rationally and skips the play and spends another $100 on the concert ticket.
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An increase in investment causes the price level to ________ in the short run and ________ in the long run
A) decrease; increase B) increase; increase further C) increase; decrease D) decrease; decrease further
If a firm increases output when MR < MC, then:
a. profit will equal zero. b. profit will increase. c. profit will decrease. d. profit will remain the same. e. the firm is minimizing losses.
The amount of time required before a project's total inflows match its total outflows is the:
A. break-even period. B. payback period. C. duration. D. yield to maturity.
Refer to the below table. What percentage of households made less than $15,000?
A. 5
B. 6
C. 11
D. 23