Giving presents on Christmas does NOT generate a deadweight loss if
A) all gift are money.
B) everybody gets exactly want she wants.
C) nobody can be made better off by returning the gift and purchasing a different one.
D) All of the above.
D
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Suppose that a consumer is at an optimum consuming X and Y. If the price of X falls, then to get to a new equilibrium the consumer must
A) purchase less X and more Y. B) purchase less Y and less X. C) purchase more X. D) purchase more Y.
If you want to own $1 million when you retire in 45 years, how much should you put into your retirement fund now, given the interest rate is 3 percent?
A. $250,005. B. $436,770. C. $264,439. D. $275,389.
If a firm in a perfectly competitive market faces the cost curves in the graph shown and produces at the profit-maximizing level of output, which of the following is true? A firm will:
A. lose money and shut down in the short run if price falls below $15.
B. lose money, but continue to operate in the short run if price is at least $15.
C. make positive profits any time the price is greater than $15.
D. All of these are true.
The Robinson-Patman Act is primarily concerned with
a. mergers b. price fixing c. price discrimination d. monopoly e. unfair and deceptive practices