In the short run, a firm should shut down its operation if:
a. its losses are less than TFC at the MR = MC point.
b. its losses equal TFC at the MR = MC point.
c. its losses are greater than TFC at the MR = MC point.
d. TR is less than TC.
e. TR exceeds TVC.
c
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A gas station in the mountains of Oregon has a monopoly over the retail gas market within a 50-mile radius. The station decides not to price discriminate. As a result, all consumers will pay
A) the highest price each consumer is willing to pay. B) the lowest price possible. C) a single price. D) multiple prices. E) a price that depends on their willingness to pay.
Household savings rates:
A. were roughly 5% in the United States in 2016. B. were 10% in the United States in 2016. C. were fairly constant at about 5 %in the United States from 2000 to 2010. D. have been roughly 15 % in the United States for the last 30 years or so.
The production of a wireless earbud involves 5 stages. The value added after the first stage of production occurs is $1.20. The sale price of the wireless earbud is $2.50. Based on the above information, what amount is used to measure GDP?
A. $3.70 B. $1.30 C. $2.50 D. $1.20
One result of the Riegle-Neal Interstate Banking and Branching Efficiency Act was that:
A. banks became less geographically diversified and banking system efficiency decreased. B. banking system efficiency increased. C. banking system efficiency decreased. D. banks became less geographically diversified.