Max Shreck, an accountant, quit his $80,000-a-year job and bought an existing tattoo parlor from its previous owner, Sylvia Sidney. The lease has five years remaining and requires a monthly payment of $4,000. The lease
A) is a variable cost of operating the tattoo parlor.
B) is an implicit cost of operating the tattoo parlor.
C) is a fixed cost of operating the tattoo parlor.
D) is part of the marginal cost of operating the tattoo parlor.
C
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Which of the following is a form of outsourcing?
A) changing your own oil B) washing your clothes C) getting your fruits and vegetables from the farmers' market D) studying for your economics exam
Which statement is false?
A. There are Federal Reserve district banks in Atlanta, Minneapolis, and Kansas City. B. There are 12 Federal Reserve District Banks. C. The Federal Reserve System was set up in 1935. D. None of the statements are false.
If a firm that makes $100 profit per pair of shoes pays LeBron James $2,000,000 to endorse their basketball shoes, then to make the endorsement pay off they must sell at least:
A. $2,000,000 more in shoes. B. $20,000 more in shoes. C. 20,000 more pairs of shoes. D. 200,000 more pairs of shoes.
There are asymmetric incentives to support and to oppose protectionist trade policies, with the stronger incentives going to those that would seek protection
Indicate whether the statement is true or false