Which of the following is true of the banks that operate under Islamic law?
a. Islamic banks are not allowed to lend out to private firms.
b. Islamic banks do not function as intermediaries between borrowers and lenders.
c. Islamic Banks are not allowed to offer checking accounts or traveler's checks.
d. Islamic banks are required to offer trade-related services free of cost.
e. Islamic banks do not charge interest on loans or pay interest on deposits.
e
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Jane is willing to pay $4 for the first cup of coffee a day, $2.50 for the second cup, and $1 for the third cup, after which she won't buy any coffee. The price of a cup of coffee is $2.40
Jane's consumer surplus from the coffee she buys is ________ per day. A) $1.60 B) $1.70 C) $4.80 D) $6.50
A fishing boat owner sells her entire catch of 8,000 fish and maximizes profit that is equal to $4,000 . Suppose fish prices increase and she now sells 10,000 fish. If fish prices increased by $1 per fish, what do you need to know to calculate her new average total cost?
a. average fixed cost b. change in average variable cost c. change in total variable cost d. how many fish she catches e. how much profit is made