At $2 a container, a grocery store supplies 100 containers of organic yogurt, but sells only 72 containers of this product. The grocery store has a ______.
a. shortage of 28
b. shortage of 18
c. surplus of 28
d. surplus of 18
c. surplus of 28
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An open-economy model is one that
a. allows for trade among nations. b. permits free flow of individuals among nations. c. encourages imports but not exports. d. advocates more exports than imports. e. Both a and b
In professional golf, a tournament winner might win, say, $1 million, whereas second place wins only $600,000. Why might golf have a 40% reduction in prize money from first and second place?
A) To ensure that there is enough money to pay those who finish near last. B) To motivate golfers to take risks they might not otherwise take. C) To motivate golfers to not take risks they might otherwise take. D) The Professional Golfers Association is a cartel.
If a mutual fund with a back-end-load is not sold within the stipulated time period, the investor is not required to pay any fee to the fund manager
a. True b. False Indicate whether the statement is true or false
Which of the following cost curves is not generally U-shaped? a. AFC
b. AVC. c. ATC. d. MC.