If smartwatches are considered substitutes for smartphones, the decline in the price of smartphones would, all else equal
A) increase the quantity of smartwatches demanded.
B) decrease the quantity of smartwatches demanded.
C) increase the demand for smartwatches.
D) decrease the demand for smartwatches.
D
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Limited liability is a benefit to
A) sole proprietorships. B) partnerships. C) corporations. D) All of the above.
Which of the following is the term used to describe a failing bank selling off a substantial amount of assets in a short time period in order to remain solvent?
a. fire sale b. short sale c. long sale d. liquidity sale
The revenue received from the sale of an additional unit of a product
A) is a marginal benefit to the firm. B) is called profit. C) is called gross sales. D) is called a net gain.
Refer to the information provided in Figure 2.5 below to answer the question(s) that follow.
Figure 2.5Refer to Figure 2.5. For this economy to move from Point A to Point B, ________ additional OLED TVs could be produced when the production of LCD TVs is reduced by 30.
A. exactly 20 B. more than 20 C. fewer than 20 D. exactly 90