Which of the following is true?
A) The market demand curve for a public good has a positive slope.
B) The market demand curve for a private good has a positive slope.
C) The market demand curve for a public good is arrived at by the horizontal sum of individual demand curves.
D) The market demand curve for a public good is arrived at by the vertical sum of individual demand curves.
D
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Since 1960, life expectancy at birth has ________ in the United States
A) dropped slightly B) remained unchanged C) risen almost 10 years D) risen more than 17 years
Discovery of new gold in Alaska will ________ the ________ of gold, ________ its price, everything else held constant
A) increase; demand; increasing B) decrease; demand; decreasing C) decrease; supply; increasing D) increase; supply; decreasing
Which of the following is not a function of money?
A. Medium of exchange B. Income generation C. Standard of value D. Store of value
The market demand for a monopoly firm is estimated to be:Qd = 100,000 - 500P + 2M + 500PRwhere Qd is quantity demanded, P is price, M is income, and PR is the price of a related good. The manager has forecasted the values of M and PR will be $50,000 and $20, respectively, in 2016. The average variable cost function is estimated to beAVC = 520 - 0.03Q + 0.000001Q2Total fixed cost in 2016 is expected to be $4 million. The firm's profit is
A. $200,000. B. -$182,000. C. $800,000. D. $375,000. E. $100,000.