The firm's break-even point occurs at an output of
A. 150.
B. 175.
C. 200.
D. 250.
D. 250.
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Tabitha shares a flea market booth with her sister. Her share of the rent is $150 per month. She is considering moving to her own, larger booth which she will not have to share with anyone. The larger booth rents for $450 per month
Recently, you ran into Tabitha in the grocery store and she tells you that she has rented the larger booth. Tabitha is as rational as any other person. As an economics major, you rightly conclude that A) Tabitha figures that the additional benefit of having her own booth (as opposed to sharing) is at least $300. B) Tabitha did not have a choice; her sister was overcharging her. C) the cost of having one's own booth outweighs the benefits. D) Tabitha figures that the additional benefit of having her own booth (as opposed to sharing) is at least $450.
When the government reduces its restrictions on immigration,
a. the prices of goods rise because the demand for goods increases b. immigration is reduced c. labor mobility is reduced d. wage differentials become narrower e. all workers are better off
The profits of the leader in a Stackelberg duopoly:
A. are greater than those of the follower. B. are less than those of a Sweezy oligopolist. C. equal those of the follower. D. are less than those of the follower.
Did the Bank of England intervene and perform its Lender of Last Resort responsibility to end the panic in August 2007?
A) yes B) no C) yes, only after a bank run and under pressure from the British financial industry D) no, since such support would present a moral hazard problem E) no, despite intense pressure from the chancellor of the exchequer