The difference in present value between a perpetuity that promised 1 per year starting today and one that promised 1 per year starting next year is
a. 0.
b. 1.
c. 1/(1 + r).
d. r/(1 + r).
Question 2
A monopolist who owned the entire supply of a scarce resource would set a price
a. at about the competitive level.
b. lower than the competitive level.
c. higher than the competitive level but lower than what a monopoly producer of a non-scarce good would.
d. above that which would be chosen by a monopoly producer of a nonscarce good.
Flower part number is a characteristic difference between monocots and eudicots (a) Flowers and buds
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