As one moves downward on an indifference curve, the:
a. total utility from the consumption of a good decreases.
b. total utility from the consumption of a good increases.
c. the total satisfaction from consumption remains the same.
d. the marginal utility from the consumption of a good increases.
e. the total satisfaction from consumption decreases.
c
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The situation of oligopoly suggests
A) many firms compete in an industry. B) mergers have not occurred. C) interdependence among firms. D) no barriers to entry exist.
If the sellers in the cigarette industry formed a cartel and decided to set price along a straight-line downward-sloping demand curve, which point would they choose if they wanted to gain the highest total revenue?
a. The point nearest the vertical axis, where the price is highest. b. The point nearest the horizontal axis, where quantity demanded is greatest. c. One of the points higher up on the demand curve, where demand is elastic. d. One of the points lower down on the demand curve, where demand is inelastic. e. The point of unit elasticity, in the middle of the demand curve.
If the number of people who want to sell off stocks are higher than those who want to buy it, the stock prices move up
a. True b. False Indicate whether the statement is true or false
Assume that the money demand function is (M/P)d = 2,200 - 200r, where r is the interest rate in percent. The money supply M is 2,000 and the price level P is 2. The equilibrium interest rate is ______ percent.
Fill in the blank(s) with the appropriate word(s).