Bill owns "Bill's Home of Blues" a store that specializes in selling CDs and DVDs of blues musicians of the 1960s and 1970s. Bill took out a loan from his bank to pay for his store and its initial inventory
Bill pays the bank $900 per week for his loan. The $900 bank payment
A) is a short-run implicit cost. B) is a fixed cost.
C) is a variable cost. D) is a long-run implicit cost.
B
Economics
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Figure 11-9
In Figure 11-9, how much more than the long-run competitive price will the profit-maximizing monopolist charge?
a.
$1
b.
$2
c.
$3
d.
$11
Economics
Which of the following is true for the law of supply?
A. Buyers decrease the quantity of a good purchased as price increases. B. Sellers increase the quantity of a good supplied as price increases. C. Price decreases as more units are supplied. D. A decrease in price results from more demand.
Economics