The demand curve for any input is the downward-sloping portion of its marginal revenue product curve.
Answer the following statement true (T) or false (F)
True
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Shaniqua sells life insurance and is considering buying a $60,000 Lexus for business purposes (thus, the expense reduces her taxable income). If Shaniqua is in the 40 percent marginal tax bracket, how much after-tax income will she have to give up in order to enjoy the Lexus?
a. $24,000 b. $36,000 c. $30,000 d. $84,000
What are the advantages to a firm of selling gift certificates?
A. Reduced strain on the refund department and greater quantity sold if your good is a normal good. B. Greater quantity sold if your good is an inferior good. C. Greater quantity sold if your good is a normal good. D. Reduced strain on the refund department and greater quantity sold if your good is an inferior good.
In a perfectly competitive market, if one seller chooses to charge a price for its good that is slightly higher than the market price, then it will _________.
A. lose all or almost all of its customers. B. see no change in its number of customers. C. see a small decrease in its numbers of customers. D. All of the above are equally likely.
Which of the following statements best completes this sentence: "On a bank's balance sheet…"?
A. net worth represents both a source and a use of funds. B. net worth shows the sources of funds and liabilities show the uses of funds. C. assets show the uses of funds and liabilities show the sources of funds. D. assets show the sources of funds and the net worth shows the uses of funds.