A decrease in the price of bowling shifts the
A) demand curve for bowling balls leftward.
B) demand curve for bowling balls rightward.
C) supply curve of bowling balls leftward.
D) supply curve of bowling balls rightward.
B
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Suppose Jordan and Lee are trying to decide what to do on a Friday. Jordan would prefer to see a comedy while Lee would prefer to see a documentary. One documentary and one comedy are showing at the local cinema. The payoffs they receive from seeing the films either together or separately are shown in the payoff matrix below. Both Jordan and Lee know the information contained in the payoff matrix. They purchase their tickets simultaneously, ignorant of the other's choice. 
Suppose a timing element is added to the game, and that Jordan buys a ticket first. Then, after seeing Jordan's choice, Lee buys a ticket. What will be the equilibrium outcome?
A. Both Jordan and Lee will buy a ticket to the documentary. B. Both Jordan and Lee will buy a ticket to the comedy. C. Jordan will buy a ticket to the documentary and Lee will buy a ticket to the comedy. D. Jordan will buy a ticket to the comedy and Lee will buy a ticket to the documentary.
Oil price increases encourage oil conservation
Indicate whether the statement is true or false
Which of the following is a difference between a second-price sealed-bid auction and an English auction?
A) The highest bidder wins in a second-price sealed-bid auction while the second-highest bidder wins in an English auction. B) The second-highest bidder wins in a second-price sealed-bid auction while the highest bidder wins in an English auction. C) Bids are placed privately in a second-price sealed-bid auction while bids are placed publicly in an English auction. D) Bids are placed one after another in a second-price sealed-bid auction while bids are placed simultaneously in an English auction.
Which of the following events would produce an upward shift in the consumption function, other things being equal?
a. An increase in consumer wealth. b. A decrease in consumer wealth. c. A decrease in autonomous consumption. d. Both b and c.