Which of the following is a correct description of Libor?
A) an average interest rate from sixteen large banks are paying to borrow funds from other large banks.
B) an interest rate calculated by the British Banker's Association every day at 11 a.m. London time
C) an interest rate tied to corporate and mortgage loan contracts valuing roughly $400 trillion
D) all of the above
D
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Continuing with the same family from the preceding question, what is the greatest (integer) number of vacation days the family would be willing to give up in order to guarantee a healthy vacation?
a. 1 b. 2 c. 3 d. 4
Suppose that a price-discriminating monopolist divides its market into two segments. In each market segment, price is determined by finding the level of output where that market's
a. average revenue equals average total cost b. average revenue equals average variable cost c. marginal revenue equals average total cost d. marginal revenue equals marginal cost e. marginal cost equals average total cost