If M = 6,000 . P = 3, and Y = 3,000 . what is velocity?
a. 6
b. 1.5
c. 0.67
d. 0.167
b
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In the one-input model, the cost curve is the inverse of the production frontier if and only if the input price is 1.
Answer the following statement true (T) or false (F)
Refer to the graph. Other things equal, an increase in the price of substitute resource would cause a:
A. shift from D 2 to D 3 assuming the substitution effect exceeds the output effect.
B. move from a to b on D 1 .
C. move from b to a on D 1 .
D. shift from D 3 to D 2 assuming the substitution effect exceeds the output effect.
A speculator becomes the fixed-rate payer in an interest rate swap. He expects that
A) long rates rise. B) long rates fall. C) short rates rise. D) short rates fall.
The outcome of the game in the figure shown predicts that Starbucks will earn profits of:
This figure displays the choices being made by two coffee shops: Starbucks and Dunkin Donuts. Both companies are trying to decide whether or not to expand in an area. The area can handle only one of them expanding, and whoever expands will cause the other to lose some business. If they both expand, the market will be saturated, and neither company will do well. The payoffs are the additional profits (or losses) they will earn.
A. $2 million.
B. $1 million.
C. $0 million.
D. $2 million.