Olav, a retired banker, served on the board of directors for a nationally prominent charitable organization. The local chapter of the charity discussed plans to purchase and relocate to a new building across town. Olav approached Mansfield, a close friend, and the two of them quickly closed on a deal for the new building, purchasing it for $1.2 million and placing title in Mansfield's name only. When the matter later came before the board of the charitable organization, Olav encouraged the organization to make an offer of $1.6 million to Mansfield. Olav did not disclose to the board that he would share in the profits of the sale. a. True
b. False

Imagine you own an established startup with growing profits. you are looking for funding to greatly expand company operations. what method of financing would be best for you?

Suppose that fixed costs for a firm in the automobile industry (start-up costs of factories, capital equipment, and so on) are $5 billion and that variable costs are equal to $17,000 per finished automobile. because more firms increase competition in the market, the market price falls as more firms enter an automobile market, or specifically, , where n represents the number of firms in a market. assume that the initial size of the u.s. and the european automobile markets are 300 million and 533 million people, respectively.a. calculate the equilibrium number of firms in the u.s. and european automobile markets without trade.b. what is the equilibrium price of automobiles in the united states and europe if the automobile industry is closed to foreign trade? c. now suppose that the united states decides on free trade in automobiles with europe. the trade agreement with the europeans adds 533 million consumers to the automobile market, in addition to the 300 million in the united states. how many automobile firms will there be in the united states and europe combined? what will be the new equilibrium price of automobiles? d. why are prices in the united states different in (c) and (b)? are consumers better off with free trade? in what ways?

In command economy, who makes production decisions? a. workers b. producers c. consumers d. the government