Your parents have given you a new car on your 16th birthday for which they paid about $24,000. Assume this is also the price you would get if you decided to sell the car a month after getting it. The monthly costs of driving the car are $100 for oil changes and $200 for gas. If you decide to keep the car, the total costs of the car to you this month will be
A. $2,300.
B. $24,300.
C. $300.
D. $0.
Answer: B
You might also like to view...
Refer to the accompanying figure.
Based on the figure, if the economy is in short-run equilibrium with output equal to 24,000, then there is ________, and ________ could return the economy to potential output (Y*).
A. an expansionary gap; a decrease in autonomous expenditures of 4,000 B. a recessionary gap; an increase in autonomous expenditures of 1,000 C. a recessionary gap; an increase in autonomous expenditures of 4,000 D. an expansionary gap; a decrease in autonomous expenditures of 1,000
A monopolist is producing at an output level at which MR = $10 and MC = $9. It could increase profits
A. by reducing both output and price. B. by increasing both output and price. C. by reducing output and by increasing price. D. by increasing output and by reducing price.
The above figure shows three different supply-and-demand graphs. Which graph best represents the market for workers at your nearest fast-food restaurant?
A) Graph A B) Graph B C) Graph C D) None of the above.
OSHA has improved worker safety
Indicate whether the statement is true or false