The use of surveys of experts to estimate long-run production costs may be undermined by the fact that:
A) it is a time-consuming process.
B) it is dependent on the judgments of individuals closely connected with the industry.
C) reporting biases can occur.
D) all of the above.
D
Economics
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If a sum of $15,000 is borrowed at 13% for a year, the interest paid by the borrower is ________
A) $750 B) $1,000 C) $1,950 D) $5,500
Economics
In the above figure, Brendan originally consumes at point A. If his income falls and compact discs are a normal good but haircuts are an inferior good then he will begin consuming at a point such as
A) B. B) E. C) F. D) G.
Economics