Refer to the table above. If the price of a chair increases to $20 and the rental price of machines is $200 per day, up to how many machines should the firm rent to maximize profits?
A) 2
B) 3
C) 4
D) 5
D
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Which of the following is an example of a person or firm that is most likely to have been granted a public franchise?
A) medical doctor B) taxi cab driver C) the local pizza parlor D) the local telephone company E) the local Honda dealership
Andrew has the utility of wealth curve shown in the above figure. He owns an SUV worth $30,000, and that is his only wealth. There is a 10 percent chance that he will have an accident within a year. If he does have an accident, his SUV is worthless
What is Andrew's expected wealth? A) $30,000 B) $27,000 C) $20,000 D) zero
The secondary market for bonds is a market for
a. bonds that is smaller than the primary market b. bonds that are not first-class c. previously issued bonds d. bonds that are not substitutes for bonds found in the primary market e. newly issued bonds
Assume Joe invests a total of $10,000 in a company - $5,000 of which is his own money and $5,000 which he borrowed at a 10% interest rate. If the company's stock value increases by 20% in one year at which time Joe sells his shares of the stock, what is Joe's rate of return on his investment?
a. 10% b. 15% c. 20% d. 30%