Graphically we can illustrate a firm with price setting ability by drawing its demand curve as ________
A) downward sloping
B) upward sloping
C) horizontal
D) vertical
A
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The principle of subsidiarity is a way to
A) divide power between local governments and unions. B) provide support for industries in decline. C) provide support for industries under pressure from foreign competition. D) divide power between national governments and the EU. E) divide EU tax money among the member countries.
When economists talk about supply, they are referring to a relationship between price received for each unit sold and the _________________.
A. demand schedule B. market price C. quantity supplied D. demand curve
In the short run, producers derive surplus from market exchange because
a. total revenue is greater than the minimum they would require to sell the good b. total revenue is equal to the minimum amount they would require to sell the good c. total revenue is less than the minimum amount they would require to sell the good d. marginal revenue equals average revenue e. they can rob consumers of most of their consumer surplus
Suppose you put $10,000 into a bank account today that pays interest annually at an annual rate of 0.5%. What is the future value of the $10,000 after 10 years?
a. $10,050.00 b. $10,511.40 c. $10,573.26 d. $16,288.95