Perishable goods such as tomatoes and milk are never used as a form of money, primarily because they cannot function as:

a. a store of purchasing power.
b. a means of payment.
c. a standard of deferred payment.
d. a medium of exchange.
e. a unit of account.

a

Economics

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(Advanced analysis) Answer the question on the basis of the following information: The equations for the demand and supply curves for a particular product are P = 10 - .4Q and P = 2 + .4Q, where P is price and Q is quantity expressed in units of 100

After an excise tax is imposed on the product, the supply equation is P = 3 + .4Q. Refer to the given information. The efficiency loss of this tax is: A. $125.00. B. $62.50. C. $87.50. D. $1.00.

Economics

Fill out the table and answer the question below. The marginal product of the fifth unit of labor is

A. 10. B. 4. C. -2. D. 16.

Economics