A public franchise is

A) an exclusive right granted to a firm to supply a good or service.
B) a government issued license required to practice a profession.
C) an exclusive right granted to an inventor of a product.
D) a unique source of raw materials.

A

Economics

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The vertical distance between a firm's average total cost curve, ATC, and its average variable cost curve, AVC

A) decreases as output increases. B) is equal to its marginal cost, MC. C) is equal to its total fixed cost, TFC. D) is equal to its average product.

Economics

If a bank has excess reserves of $7,000 and demand deposit liabilities of $100,000, and if the reserve requirement is 15 percent, then the bank has actual reserves of

A) $17,000. B) $22,000. C) $27,000. D) $29,000.

Economics