When demand is elastic, an increase in price will result in a decrease in total revenue.
Answer the following statement true (T) or false (F)
True
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Of the items in the following lists, which go from most liquid to least liquid?
A) a house, a six-month certificate of deposit, shares of stock, a checking account B) a checking account, a certificate of deposit, shares of stock, a house C) a checking account, a house, a six-month certificate of deposit, shares of stock D) a six-month certificate of deposit, shares of stock, a house, a checking account
Ticket scalping can increase total surplus in the market for tickets to sporting events
a. True b. False Indicate whether the statement is true or false
The present discounted value of a future payment can be calculated using which of the following formulas?
A. (Current payment) ÷ [(1 + Interest rate) N]. B. (Future payment) ÷ [(1 + Interest rate) N]. C. [(1 + Interest rate) N] ÷ (Future payment). D. [(1 + Interest rate) N] ÷ (Current payment).
Which of the following would be considered an implicit cost of operating a business?
A) advertising expenses B) wages paid to workers C) a normal rate of return for investors D) any explicit cost