The three largest categories of spending by the Federal government in order from first to third would be
a. income security, net interest, and national defense
b. national defense, net interest, and income security
c. income security, health, and national defense
d. health, income security, and national defense
c
Economics
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An individual's value for a good or service is the
a. The amount of money he or she used to pay for a good b. The amount of money he or she is willing to pay for it c. The amount of money he or she has to spend on goods d. None of the above
Economics
Two firms compete as a Stackelberg duopoly. The demand they face is P = 40 ? Q. The cost function for each firm is C(Q) = 4Q. The profits of the two firms are:
A. ?L = $81; ?F = ?$40.5. B. ?L = $162; ?F = $40.5. C. ?L = $162; ?F = $81. D. ?L = $81; ?F = $40.5.
Economics