When You Were Born,your Parents Opened an Investment Account in Your

question 63

Multiple Choice

When you were born,your parents opened an investment account in your name and deposited $500 into the account.The account has earned an average annual rate of return of 4.8 percent.Today,the account is valued at $36,911.22.How old are you?

• A)74.47 years
• B)76.67 years
• C)81.08 years
• D)87.33 years
• E)91.75 years

Determine the price-setting behavior of monopolistically competitive firms to maximize profits.

Identify economic profit or loss of firms in the short and long run.

Evaluate the impact of market adjustments on demand elasticity for monopolistically competitive firms.

Assess the role of marginal revenue and marginal cost in determining profit-maximizing output levels.