The table above gives the total cost information for Hank and Helen's cherry farm. They sell their cherries in a perfectly competitive market, where the price is $6.00 per pound. If Hank and Helen produce and sell 6 pounds of cherries, what is their profit?
Select one:
a. $6
b. $20
c. $28
d. $8
d. $8
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If a $1000 face value coupon bond has a coupon rate of 3.75 percent, then the coupon payment every year is
A) $37.50. B) $3.75. C) $375.00. D) $13.75
Assume that empirical evidence shows a difference in mean earnings between two groups, say, majority and minority workers. What conclusion may be drawn?
a. The group with the lower earnings is being discriminated against. b. Any of the above statements could, either partially or entirely, explain this difference. c. The group with the lower earnings is less productive. d. The group with the lower earnings has less human capital.
When the output per hour of workers is high, the real wages of the workers will also be high.
A. True B. False
Suppose the stocks for two relatively identical auto makers, A and B, are selling for $100 and $150 respectively. Both are predicted to sell for $200 in the coming year. What action do you expect investors engaging in arbitrage to take? What will be the ultimate effect of this action?
What will be an ideal response?