The most important function of money is when money is used as a
A) medium of exchange. B) unit of accounting.
C) standard of deferred payment. D) store of value.
A
Economics
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One of the defining characteristics of an oligopoly is that:
A. the strategic interactions between a firm and its rivals have a major impact on its profits. B. no single firm has an impact on the market as a whole. C. there are only a few buyers in the market. D. there are no barriers to entry to the market.
Economics
Imagine that you are an entrepreneur, making designer t-shirts in your garage. Your total cost (in dollars) is given by the equation TC = 300 + 10Q, where Q represents the number of t-shirts you make. Your fixed cost is $________, and your marginal cost is $________.
A. 300; Q30 B. 300; Q10 C. 300; 10Q D. 300; 10
Economics