Exhibit 7-1 Quantity and total revenue data for a firm
Quantity
Total Revenue
0
$ 0
1
62
2
124
3
186
Exhibit 7-1 indicates that this firm is operating in which type of market structure?
A. The market structure cannot be determined from the information given.
B. monopoly
C. perfect competition
D. monopolistic competition
Answer: C
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The above table shows production points on Sweet-Tooth Land's production possibilities frontier. What is the opportunity cost of one can of cola if Sweet-tooth Land moves from point C to point B?
A) 20 chocolate bars per can of cola B) 10 chocolate bars per can of cola C) 2 chocolate bars per can of cola D) 1/2 chocolate bars per can of cola
If a bank has $50 million in rate-sensitive assets and $20 million in rate-sensitive liabilities then
A) an increase in interest rates will reduce bank profits. B) a decrease in interest rates will reduce bank profits. C) interest rate changes will not impact bank profits. D) a decrease in interest rates will increase bank profits.