What is the present value of $104.25 that you could receive one year from now, given that the rate of interest is 4.25 percent?

If another worker is hired with a marginal product greater than the previously hired worker, which of the following will be true?

A) Total costs will decrease. B) Fixed costs will decrease. C) Marginal cost will increase. D) Marginal cost will decrease. E) Average fixed costs will increase.

One prediction about monopolistic competition is that it has higher unit costs than perfect competition. But it is unreasonable to conclude that monopolistic competition is therefore bad for consumers because

A) consumers benefit from an increased variety of products. B) higher production costs means more employment. C) consumers benefit from products becoming more homogeneous. D) consumers benefit from lower prices. E) consumers benefit because of an increase in quantity available.