A legal claim entitling the owner of the claim to fixed annual payments and a lump-sum payment is called a(n)
A) equity share.
B) bond.
C) stock.
D) debit.
B
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If the price of hair styling increases, then
A) hair styling salons hire fewer workers but makes more profit. B) hair stylists demand an increase in wages and the salons hire fewer workers. C) the value of marginal product of each hair stylist increases and the demand curve for hair stylists shifts leftward. D) the value of marginal product of each hair stylist increases and the demand curve for hair stylists shifts rightward.
The total utility of a consumer diminishes whenever:
a. he or she buys an additional unit of a good. b. his or her marginal utility decreases. c. his or her total utility increases at a decreasing rate. d. the last unit consumed of a particular good is distasteful or provides dissatisfaction. e. other consumers are also purchasing the product.
Which of the following might be used to protect a monopoly from competition?
A.) A horizontal demand curve. B.) Marginal revenue. C.) A patent. D.) A contestable market.
Which term refers to a legally established minimum price that firms may charge?
A) a price ceiling B) a subsidy C) a price floor D) a tariff