A car rental company will earn a net income of $6,000 per year on a new car for the first three years of its life. After three years, the car will be worthless. If the interest rate is 10 percent (0.10) per ear, what is the present value of the car to the car rental company? (Assume that each year's income is received at the end of the year.)

Which of the following did NOT contribute to "internal economies" in the industrialization process?

(a) Diminishing returns to scale (b) Central power sources (c) Managerial improvements (d) Transportation networks

Suppose there are 100 firms in a market and all are identical. Firm A will hire 20 workers when the wage rate is $10, 25 workers when the wage rate is $9, and 30 workers when the wage rate is $8

The equilibrium wage rate for a number of years has been $9. If the wage rate falls to $8, we know that A) the quantity demanded for the market will increase to 3,000 workers. B) the quantity demanded for the market will increase to more than 3,000 workers. C) the quantity demanded for the market will increase to less than 3,000 workers. D) the quantity demanded for the market will increase, but we can't tell which of the above answers is correct.