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Which of the two bonds in each example would you expect to pay the higher interest rate? Explain why.
a.a Canadian government bond or a bond issued by the government of Turkey
b.a government of Canada bond or a municipal bond of the same face value and term
c.a 6-month Treasury bill or a 20-year bond
d.a Canadian National Railway Company bond or a bond issued by a new fitness clothing company
Purely Competitive Firm
A business that operates in a market with infinite buyers and sellers, no barriers to entry, and a standard product, leaving the company as a price taker.
Unitary Elasticity
A situation in economics when a change in the price of a product leads to an equal proportionate change in the quantity demanded or supplied.
Marginal Revenue
The additional income received from selling one more unit of a good or service; it is an important concept for determining the optimal level of output for a company.
Purely Competitive Firm
A company operating in a market where there are many buyers and sellers, the products are homogeneous, and there are no barriers to entry or exit.
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