Bill owns Bill's Home of Blues a store that specializes in selling CDs and DVDs of blues musicians of the 1960s and 1970s. Bill took out a loan from his bank to pay for his store and its initial inventory.
Bill pays the bank 900 per week for his loan. The 900 bank payment
A) is a short-run implicit cost. B) is a fixed cost.
C) is a variable cost. D) is a long-run implicit cost.
Question 2
In monopolistic competition, if a firm produces a highly desirable product relative to its competitors, the firm will be able to raise its price without losing any customers.
Indicate whether the statement is true or false
In 2008, the U.S. economy suffered a gaping wound as several trillion dollars were ripped out of it.
A mound of buffalo skulls. In 1870 an estimated 30 million buffalo roamed the plains; by 1900 there
Bill Viola, The Reflecting Pool.
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An electrician charges a flat fee of $90 for a home service call. In addition he charges $25 ...