A good economic model has
A) testable predictions.
B) absence of assumptions.
C) extreme simplifications.
D) ambiguous predictions.
A
Economics
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In the above figure, the difference between the competitive industry price and that of the monopolist is
A) 0B. B) 0A. C) AB. D) CE.
Economics
Refer to Scenario 9.1 below to answer the question(s) that follow. SCENARIO 9.1: Amy borrowed $20,000 from her parents to open a bagel shop. She pays her parents a 5% yearly return on the money they lent her. Her other yearly fixed costs equal $9,000. Her variable costs equal $30,000. In her first year, Amy sold 40,000 dozen at a price of $1.50 per dozen. Refer to Scenario 9.1. Amy's total fixed costs equal
A. $1,000. B. $9,000. C. $10,000. D. $21,000.
Economics