A durable good
A. is used up within 3 years.
B. has a life span of more than 3 years.
C. is an intangible commodity.
D. has an infinite life span.
Answer: B
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In 2004, hurricanes destroyed a large portion of Florida's orange and grapefruit crops. In the market for citrus fruit in 2004
A) the supply curve shifted to the left resulting in an increase in the equilibrium price. B) the demand curve shifted to the right resulting in an increase in the equilibrium price. C) the demand curve shifted to the left resulting in a decrease in the equilibrium price. D) the supply curve shifted to the right resulting in an increase in the equilibrium price.
Why is judging trends in economic indicators important to managers?
What will be an ideal response?
Using the Internal Rate of Return approach to investment, one would undertake an investment if the internal rate of return
A) equals zero. B) equals the interest rate. C) exceeds the interest rate. D) is less than the interest rate.
Firms in perfectly competitive markets: a. are price takers
b. are price makers. c. influence price by varying the quality of output. d. sell heterogeneous products.