At E1, what is the value of the U.S. dollar?
a. less than 1.00 euro
b. 1.00 euro
c. greater than 1.00 euro but less than 1.50 euro
d. 1.50 euro
a. less than 1.00 euro
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Suppose that Starbucks reduces the price of its premium coffee from $2.20 to $1.80 per cup, and as a result, the quantity sold per day increased from 350 to 450 . Over this price range, the price elasticity of demand for Starbucks coffee is:
a. 0.40. b. 0.80. c. 1.25. d. 2.50.
Using an interest rate of 5%, which figure has the smallest present value?
A. $5500 to be received ten years from now B. $5075 to be received three years from now C. $5000 D. $5050 to be received two years from now
A monopolist:
A. can never incur losses. B. earns a profit in the short run but not in the long run. C. earns a profit in the short run and the long run. D. can earn profits or incur losses in the short run.
Mike purchased a 1968 Chevy Corvette in 2009 for $30,000 and a year later he sold it for $36,000. Due to these transactions
A. Mike earned a dividend of $36,000. B. Mike earned a capital gain of $6,000. C. Mike earned a capital loss of $6,000. D. Mike earned a dividend of $600.