When the price of a bracelet was $28 each, the jewelry shop sold 128 per month. When it raised the price to $32 each, it sold 112 per month. Using the midpoint method, the price elasticity of demand for bracelets is
a. 1.14.
b. 1.
c. 0.25.
d. 0.13.
b
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Suppose two companies, Macrosoft and Apricot, and considering whether to develop a new product, a touch-screen t-shirt. The payoffs to each of developing a touch-screen t-shirt depend upon the actions of the other, as shown in the payoff matrix below (the payoffs are given in millions of dollars). 
Which of the following statements is correct?
A. Apricot's dominant strategy is to not develop a touch screen t-shift. B. Apricot's dominant strategy is to develop a touch-screen t-shirt. C. Apricot does not have a dominant strategy. D. Apricot's dominant strategy is to develop a touch-screen t-shirt if Macrosoft does not.
Destruction of significant infrastructure will result in a country's production possibilities frontier: a. becoming steeper. b. becoming flatter
c. shifting inward. d. shifting outward.
Jane pays the market price of $69 for a new pair of running shoes, even though she would be happy to pay a maximum of $100 for the same pair of shoes. This is an example of the concept of
A. price ceilings. B. producer surplus. C. consumer surplus. D. full economic prices.
Perfect competition is characterized by:
What will be an ideal response?