Which is the most accurate statement?
A. Fringe and sub-prime lending should be outlawed.
B. Poor people cannot get loans in the United States.
C. Payday lenders like the Military Financial Network make low interest loans to our military personnel.
D. When poor people get personal loans, they usually pay much higher interest rates than the average American.
D. When poor people get personal loans, they usually pay much higher interest rates than the average American.
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If output is increased beyond the point where total profit is maximized,
A. total profits stay constant. B. total profits will decline. C. marginal profit will be positive. D. MR will be increasing.
With linear demand and supply curves in a market, suppose a tax of $0.20 per unit on a good creates a deadweight loss of $40 . If the tax is increased to $0.50 per unit, the deadweight loss from the new tax will be
a. $200. b. $250. c. $475. d. $625.
You decided to take a college accounting course to brush up on your knowledge of the language of business. The tuition expense was $500. After the date has expired to receive a refund for the course, you are offered a job that would conflict with your class time. In making the decision to accept or decline the offer, the $500 is:
A. a sunk cost. B. a sunk benefit. C. the opportunity cost of the job. D. the expected gain in pay from taking the accounting course.
When price is sufficient to cover average variable costs, firms suffering short-run losses will continue to operate rather than shut down.
Answer the following statement true (T) or false (F)