When a new discount retailer, like Wal-Mart, opens a store, people save money. The CPI
a. completely ignores this
b. accounts for every implication of this
c. misses the reduction in what people pay when they shift but captures the effect from that point on.
d. does not count sales at discount stores.
e. misses the reduction in what people pay only for stores in mid-sized cities.
C
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In the long run, the economic profit of a firm in a perfectly competitive market
A) will be above zero. B) will be below zero. C) will equal zero. D) can be above, below, or equal to zero.
Lisa runs a local flower shop, if it rains on Valentine's Day and she opens the shop, she will lose $200. If it does not rain on Valentine's Day, she will earn $500 dollars as profits
The chance of rain is 30%, the standard deviation of the profits Lisa could earn on Valentine's Day is A) 198.17. B) 135.61. C) 432.43. D) 290.