You lend your sister's daughter $2,000 for a year, and at the end of the year she pays you $2,180. The interest rate you are charging her is

The market for used cars is shown in the above figure. Buyers cannot tell whether any given car is a lemon. Forty percent (40%) of all cars are lemons. However, sellers can switch to selling lemons at lower costs

Which of the following statements is TRUE? A) Only lemons are sold for $1,600. B) Only lemons are sold for $800. C) All the sellers of good cars will switch to selling lemons. D) 40% buyers will get lemons.

For a constant returns to scale production function:

a. marginal costs are constant but the average cost curve has a U-shape. b. both average and marginal costs are constant. c. marginal cost has a U-shape; average costs are constant. d. both average and marginal cost curves are U-shaped.