Pookie's Pinball Palace restores old Pinball machines. Pookie has just spent $300 purchasing and cleaning a 1960s-era machine which he expects to sell for $2,000 once he is finished with the restoration
After having spent $300, Pookie discovers that he will need to rewire the entire machine at a cost of $1,100 in order to finish the restoration. Alternatively, he can sell the machine "as is" now for $1,000. What is his marginal benefit if he sells the machine "as is" now?
A) $300 B) $900
C) $1,000 D) The marginal benefit cannot be determined.
C
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Indicate whether the statement is true or false
According to the political business cycle theory, if the Fed wanted to see a President re-elected, prior to the election it might
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