A firm’s total profit is the difference between its sales and what it pays out in costs.
Answer the following statement true (T) or false (F)
True
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When the domestic currency is initially undervalued in a fixed exchange rate regime, the central bank must intervene in the foreign exchange market to ________ the domestic currency, thereby allowing the money supply to ________
A) purchase; decline B) sell; decline C) purchase; increase D) sell; increase
Which of the following refers to a natural monopoly?
a. A monopoly resulting from government control b. A monopoly resulting from economies of scale c. A monopoly resulting from output leadership d. A monopoly resulting from a large advertising budget e. A monopoly resulting from trade restrictions
The typical movement of the aggregate supply curve resulting from an increase in productivity is that it
a. shifts inward and becomes flatter. b. shifts inward. c. shifts outward. d. becomes flatter. e. becomes steeper.
The present discounted value of $60,000 to be received at the end of three years when the interest rate is 10 percent is closest to
A. $79,860. B. $49,587. C. $45,079. D. $60,000.