Tracy quits her job, which pays $25,000 a year, to finish her college degree. Her annual college expenses are $12,000 for tuition and fees and $1,000 for books. What is her opportunity cost of attending college for the year?
$38,000
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The Federal Open Market Committee:
A. includes all regional bank presidents and the Board of Governors. B. is the most important policy-making body of the Federal Reserve. C. is responsible for regulatory oversight and implementation of monetary policy of regional banks. D. is responsible for monitoring how goods and services are being sold on the open market.
A decrease in demand and an increase in supply results in a(n)
a. decrease in equilibrium price and an ambiguous effect on equilibrium quantity b. increase in equilibrium price and an ambiguous effect on equilibrium quantity c. ambiguous effect on equilibrium price and an increase in equilibrium quantity d. ambiguous effect on equilibrium price and an decrease in equilibrium quantity e. increase in equilibrium price and a decrease in equilibrium quantity
A price discriminating pure monopolist will attempt to charge each buyer (or group of buyers):
A. different prices to compensate for differences in the characteristics of the product.
B. the same price if per unit cost is constant for each unit of the product.
C. that price that equals the buyer's marginal cost.
D. the maximum price each would be willing to pay.
Fill in the Marginal Output column.
