A firm's net income is its revenue minus its costs of production.
Answer the following statement true (T) or false (F)
True
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A monopolistically competitive firm maximizes profit where
A) price > marginal cost. B) total revenue > marginal cost. C) marginal revenue > average revenue. D) price = marginal revenue.
Which of the following will NOT shift the short-run aggregate supply function?
A) changes in labor costs B) changes in the costs of nonlabor inputs C) changes in the price level D) changes in the expected price level
Suppose you own a savings bond that will pay you $100 in 7 years. If the annual interest rate is 2%, what is the present value of the savings bond?
a. $27.91 b. $87.06 c. $93.64 d. $87.06
The payment of interest not only on the original deposit, but on all previously accumulated interest is called::
A. compound interest. B. conflict of interest. C. simple interest. D. the nominal interest rate.