Which of the following is NOT a price discrimination scheme?
Which model(s) assumes sticky wages (workers don't want to lower their wages to help the market reach a new equilibrium)?
I). Keynesian school.
II). Neo-Keynesian school.
III). New Classical school.
The owners of a firm are earning economic profit if
Which of the following statement(s) is/are true?
I). Should an error that understates the ending merchandise inventory not be discovered, the Retained
Earnings account will be overstated at the end of the subsequent year.
II). The gross profit is 45% of net sales. The cost of goods sold then must be 55% of the net sales.
III). If the cost of goods sold increases by 1% of sales during the period, the gross profit and net income will decrease by 1% of sales because of this increase.
IV). The average inventory totals $20,000 and the cost of goods sold totals $200,000. The inventory turnover rate is 15.0.
Suppose that initially, the equations for demand and supply are Qd = 48 - 4P and Qs = 4P - 16, respectively. If the quantity supplied decreases by 4 at every price (so that the supply curve shifts to the left), the equilibrium price will change from:
