Which of the following is not an example of a capital resource?
a. a drill press machine
b. a pitch fork
c. a commercial sewing machine
d. 100 acres of farmland in central California
d
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Suppose Island Bikes, a profit-maximizing firm, is the only bike rental company in a small resort town. The marginal cost to Island Bikes of renting out a bike is $3, and Island Bikes has no fixed costs. Each day Island Bikes has six potential customers, whose reservations prices are listed below.CustomerReservation Price($/Rental)A22B16C12D8E6F4 Suppose Island Bikes knows that customers whose reservation prices are at least $10 always rent bikes before noon, while those whose reservation prices are below $10 never do so. If Island bikes can charge a different price in the morning and in the afternoon, then in the afternoon, it will rent out ________ bike(s) and charge ________ per bike.
A. 5; $10 B. 1; $8 C. 3; $4 D. 2; $6
How has the growing popularity of factory outlet stores affected the market for clothing at retail department stores?
A) the supply curve for clothing at retail department stores shifts to the left. B) the demand curve for clothing at retail department stores shifts to the right. C) the supply curve for clothing at retail department stores shifts to the right. D) the demand curve for clothing at retail department stores shifts to the left.
If Sam Sneed desires a loan from the Marshall National Bank but the bank only has its legally required reserves on hand, then
a. Sam must go to another bank for his loan b. the Marshall National Bank can borrow directly from a state-chartered bank c. the Marshall National Bank cannot grant the loan because it is state chartered d. the Marshall National Bank can reduce its reserves e. the Marshall National Bank can borrow from its district Federal Reserve Bank
The process of focusing on only the most important factors to explain a phenomenon is called
a. abstraction. b. marginal analysis. c. rational choice. d. controlled experimentation. e. the trade-off between efficiency and equality.