In the short run, a firm that incurs losses might choose to produce rather than shut down if the amount of its revenue is less than its fixed cost

If you invest $10,000 in a bond that earns 8% interest per year, how many years will it take to double your money?

A) 1 year and 3 months B) 2 years and 6 months C) 8 years D) 8 years and 9 months

As the price of a good increases, the loss in consumer surplus is larger,

A) the more elastic demand is. B) the more money previously spent on the good. C) the less money previously spent on the good. D) the smaller the price increase.