The monopolistic competitor's demand curve is more _______ (elastic/inelastic) than a monopolist's demand curve.
Fill in the blank(s) with the appropriate word(s).
elastic
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The firm in the figure above is ________ that is equal to ________
A) making an economic profit; $5.14 × 7 B) making an economic profit; $3.00 × 7 C) incurring an economic loss; $5.14 × 7 D) incurring an economic loss; ($5.14 - $3.00 ) × 7 E) making an economic profit; ($5.14 - $3.00 ) × 7
The interest rate that banks charge other banks for overnight loans is the
A) discount rate. B) Treasury bill rate. C) prime rate. D) federal funds rate.
The price elasticity of demand for a textbook is estimated to be 1 no matter what the price or quantity demanded. In this case:
A. a decrease in price will increase the total revenue of sellers. B. a 10 percent increase in price will result in a 10 percent increase in the quantity demanded. C. a 10 percent increase in price will result in a 10 percent decrease in the quantity demanded. D. an increase in price will decrease the total revenue of sellers.
What is the value of $F (the total new checkable deposits)?
A) $1,000 B) $4,000 C) $5,000 D) $6,000