In the above figure, moving from producing 50 guitars and 50 ukuleles to producing 25 guitars and 75 ukuleles, the opportunity cost of one ukulele is

Which of the following is counted as a liability for a bank?

A) bank reserves B) customer deposits C) securities D) bank loans

The market supply curve for music downloads is Q = 135(P-1 ) where Q is millions of downloads and P is the price in dollars per track

If the current price is $1.20 per download, what is the change in producer surplus if the price increases by $0.20 per track? A) $5.4 million B) $8.1 million C) $10.8 million D) $27 million

Economic profits will take into account: a. explicit costs but not implicit costs. b. implicit costs but not explicit costs. c. both implicit and explicit costs

d. neither explicit nor implicit costs.

If the slope of a demand curve is constant, then so is the elasticity on that demand curve.

Answer the following statement true (T) or false (F)