Recall the Application about the manufacture of fake killer whales used to scare sea lions off the Washington coast to answer the following question(s).Recall the Application. If a fake killer whale to be used to scare sea lions away from steelhead and other threatened and commercially valuable species cost $11,000 for the mold and $5,000 for materials for each fake killer whale made, then the average or per unit cost of producing five fake killer whales would be:
A. $5,000.
B. $7,200.
C. $11,000.
D. $16,000.
Answer: B
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A bank has no excess reserves and demand deposit liabilities of $100,000 when the required reserve ratio is 20 percent. If the reserve ratio is raised to 25 percent, the bank's excess reserves will now be
A) -$5,000. B) -$1,000. C) $1,000. D) $5,000.
Which of the following are mentioned as forces of the new growth theory that influence economic growth? I. Technology II. Research III. Innovations
A) I only B) I and II only C) I and III only D) II and III only E) I, II, and III
In profit centers
a. Managers are easy to evaluate because there is a simple metric of how well they performed b. Managers typically do not have the information to run their division efficiently c. Managers' decisions rarely affect other divisions d. Managers typically do not have the incentives to run their division efficiently
A monopolist faces the inverse demand curve P = 60 - Q. It has variable costs of Q2 so that its marginal costs are 2Q, and it has fixed costs of 30. The monopoly's profit-maximizing output is
A) 5. B) 10. C) 15. D) 20.