Moving rightward along a straight line, the slope of the line
A) always increases.
B) always decreases.
C) stays the same.
D) increases if the line slopes upward to the right.
E) decreases if the line slopes downward to the right.
C
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If consumers experience an increase in lifetime income, current spending will ________, current saving will ________, and future spending will ________
A) increase; increase; increase B) increase; decrease; decrease C) increase; decrease; increase D) increase; increase; decrease E) decrease; increase; increase
Refer to the payoff matrix below. Which is the equilibrium of the game using the Pareto criterion?
Healthy Snacks and Best Treats are two firms competing in the health food snacks market. Both are considering introducing a new health food snack made purely of dried power fruits. The payoff matrix shows their net economic profit in millions for the different strategies.
A) Best Treats Do Not Introduce and Healthy Snacks Introduce.
B) Best Treats Introduce and Healthy Snacks Introduce.
C) Best Treats Introduce and Healthy Snacks Do Not Introduce.
D) Best Treats Do Not Introduce and Healthy Snacks Do Not Introduce.
When price exceeds average variable cost for a firm, it is possible that: a. it is earning an economic profit. b. it is breaking even
c. it is suffering an economic loss. d. any of the above is true.
In a principal/agent relationship, _____ can help to reduce the damage caused by a winner's curse, provided both the parties are well-informed
a. signals b. warranties c. disclosure d. renegotiation