A secure monopolist charges a higher price than an insecure monopolist.
Answer the following statement true (T) or false (F)
True
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Suppose you value a special watch at $100 . You purchase it for $75 . On your way home from class one day, you lose the watch. The store is still selling the same watch, but the price has risen to $85 . Assume that losing the watch has not altered how you value it. What should you do?
a. Pay the $85 to buy the watch. b. Wait to see if the watch goes on sale. If the price drops to $75 or less, buy the watch. c. Wait to see if the watch goes on sale. If the price drops to $25 or less, buy the watch. d. Do not buy the watch.
Capital gains are those gains
A. earned from selling an asset prior to its maturity date. B. earned from avoiding tax payments by understating earnings from capital assets. C. earned from purchasing an asset for less than what it is actually worth. D. earned from selling an asset for a price more than what was paid for it.
The concept that for each additional unit of a good the added satisfaction you receive from consuming the good decreases is called _____?
A. Diminishing marginal utility B. Chaos concept C. Self-interest utility D. Rational choice theory
A cutoff bank statement provides assurance to the auditors that all checks outstanding at year-end were included in the list of outstanding checks in the year-end bank reconciliation.
a. true b. false