Define discounted value of a future payment
What will be an ideal response?
The discounted value of a future payment is the amount of money that would be needed to be invested today to generate the future payment. It is also referred to as the present value of a future payment.
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Consider a monopolistically competitive industry which is in long-run equilibrium. Which of the following is TRUE?
A) All firms charge a price equal to average total cost. B) All firms charge a price equal to marginal cost. C) All firms earn positive economic profit. D) Demand, average total cost, and marginal cost all intersect.
The external shock that hit Mexico and other Latin American countries in the early 1980s that caused the Lost Decade was a collapse in world oil prices
Indicate whether the statement is true or false