Police protection is a private good
Indicate whether the statement is true or false
F
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The following diagram shows the rate of inflation each year during a five year span. Use this diagram to answer the next question.
In which year did prices go down?
A. Year 1 B. Year 2 C. Year 3 D. Year 4
If the interest rate is 5 percent, what is the present value of $100 that will be received 3 years from now?
A) $90.70 B) $86.38 C) $115.00 D) $13.62
Given that the firm wants to sell both the versions, how high can the no-name brand be priced?
a. $30 b. $40 c. $60 d. $70
Constant returns to scale occur when: a. long-run average total cost decreases with an increase in output
b. long-run average total cost increases with an increase in output. c. long-run average total cost remains constant with an increase in output. d. long-run average variable cost decreases with an increase in output.