If this is a closed economy, what will the price of a bike be?
A. $40
B. $100
C. $140
D. $20
Answer: B
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Refer to the graph shown. Which supply curve is perfectly elastic?
A. A B. B C. C D. D
Non-depository institutions would include all of the following except:
A. credit unions. B. pension funds. C. insurance companies. D. finance companies.
Bob's Lawn Care Services is a perfectly competitive firm that currently mows 22 lawns a week. Bob's marginal cost exceeds the price he charges. Bob can increase his profit if he
A) charges a higher price. B) charges a lower price. C) mows fewer than 22 lawns a week. D) mows more than 22 lawns a week.
A normal good is a good whose quantity demanded
a. rises when its price falls. b. falls when the price of a related good falls. c. falls when the consumer's total utility rises. d. rises when the consumer's real income increases.