If Tom does not tattle, what would Sarah's best response be
a. Hit
b. Not hit
c. Run
d. Hide
a
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If the cross-price elasticity of two goods is 0.25, then we know that these goods are:
A. substitutes because their cross-price elasticity is greater than zero. B. substitutes because their cross-price elasticity is less than 1. C. complements because their cross-price elasticity is greater than zero. D. complements because their cross-price elasticity is less than 1.
Refer to Figure 23.5 for a perfectly competitive firm. This firm will maximize profits by producing the level of output that corresponds to point
A. C. B. B. C. A. D. D.
In general, which form of business organization has the greatest capacity to raise large sums of financial capital?
A. corporations B. sole proprietorships C. partnerships D. limited partnerships
A semiprofessional baseball team near your town plays two home games each month at the local baseball park. They split the concessions 50/50 with the city, but keep revenue from ticket sales for themselves. The city charges the team $100 each month for the three-month season. The team pays the players and manager a total of $1,000 a month. The team charges $10 for each ticket, and the average customer spends $7 at the concession stand. Attendance averages 30 people at each home game.In order to break even, how many tickets does the team need to sell for each game?
a. 33 b. 37 c. 41 d. 45