Since 1979, the price of crude oil in real terms
a. has fluctuated but the overall trend has been downward.
b. rose during 1980-2000 . but the price trend has been downward since 2000.
c. declined throughout most of the 1980s and 1990s, but in 2011 the price was once again higher than the level of 1980.
d. all of the above are true.
C
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Income taxes paid by corporations are
A) the major source of revenue for the federal government. B) the major source of revenue for state governments. C) the major source of revenue for local governments. D) about 9 percent of the federal government's revenue. E) the major source of expenditure by the federal government.
Refer to the table below. If Gorgeous Sands Resort produces the profit-maximizing number of resorts and charges the profit-maximizing price, what is their total profit?
The table above summarizes Gorgeous Sands Resort's marginal capacity cost, marginal operating cost, peak marginal revenue, off-peak marginal revenue, and its peak and off-peak demand for its resort units.
A) $525,000
B) $285,700
C) $487,500
D) $300,000