The minimum amount that investors must earn on the funds they invest in a firm, expressed as a percentage of the amount invested, is referred to as
A) the explicit costs of production. B) net income.
C) net worth. D) a normal rate of return.
D
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A shift of the supply curve of DVDs raises the price of a DVD from $9.50 to $10.50 a DVD and reduces the quantity demanded from 41 million to 39 million DVDs a month. The price elasticity of demand for DVDs is
A) 2 million DVDs a month per dollar. B) $1 per 2 million barrels a day. C) 0.5. D) 2.0.
Which of the following might cause the demand for ice cream, a normal good, to increase?
a. an increase in the price of ice cream b. an increase in the price of sherbet c. cooler weather d. a decrease in the number of consumers e. a decrease in consumer income
The supply curve for a good is a line that relates
a. profit and quantity supplied. b. quantity supplied and quantity demanded. c. price and quantity supplied. d. price and profit.
A tariff imposed on imported shoes will cause the domestic price of shoes to ________ and the domestic production of shoes to ________.
A. decrease; decrease B. decrease; increase C. increase; decrease D. increase; increase