Marcus sells 300 candy bars at $0.50 each. His total costs are $125. His profits are

A bank increased its fees for processing personal checks from 18 cents to 24 cents per check. In a statement accompanying the announcement, the bank said that some customers who reduce the number of checks they write would see no change in their overall account fee. What is the implication of this statement for these customers?

a. The price elasticity of demand for check writing is less than one. b. The price elasticity of demand for check writing is greater than one. c. They are indifferent to the check writing fee. d. They have a unit-elastic demand for check writing.

Transfer payments, like Social Security, are known as entitlements since ________

A) they are locked up by earlier legislation B) the individuals who receive these payments are poor and deserve our support C) the individuals who receive these payments made payments to the federal government in excess of the monies they draw from the system D) these monies tend to rise in an economic downturn