Which of the following is true about the Bitcoin:
a. New Bitcoins are created by private, non-Bitcoin affiliated individuals (i.e., not Bitcoin employees) called miners, who solve computer algorithms to earn the newly created Bitcoins.
b. New Bitcoins are created by the Bank of Bitcoin (BoB), which is (for all intents and purposes) the central bank in charge of Bitcoin's supply.
c. New Bitcoins are created by Bitcoin Inc., which is a company, like Facebook or Microsoft, thathas developed this virtual currency.
d. Bitcoin transactions are cleared through clearing houses, such as Mt. Gox.
e. Bitcoin has a fixed exchange rate relative to the U.S. dollar and other currencies.
.A
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A monopolist faces a demand curve given by P = 20 - Q and has total costs given by TC = Q2. By using a bit of calculus, you should be able to determine that the firm's marginal revenue is MR = 20 - 2Q and its marginal cost is MC = 2Q. What is its profit-maximizing output level?
a. 5 b. 6 c. 7 d. 8
In the market for Canadian dollars measured in US dollars, the supply of Canadian dollars is
a. The demand for Canadian dollars b. The demand for US Dollars c. The supply of US dollars d. None of the above