Ted got a ticket to this year’s Super Bowl and paid the face value of $1,000. His cousin offered him $3,000 for the ticket. Ted chose to attend the game. From this, we can infer that Ted’s value for this ticket was
A. less than $1,000.
B. more than $2,000.
C. at least $3,000.
D. the ticket price plus his cousin’s offer, a total of $4,000.
Answer: C
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A competitive firm sells 100 units of output for $5 per unit. The firm's marginal revenue amounts to __________
Fill in the blank(s) with correct word
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Macro AD-AS Model
In Exhibit 10A-4, the self-correction argument is that in the long run, competition:
A. from unemployed workers causes an increase in nominal wages and a leftward shift in SRAS. B. from unemployed workers causes a rightward shift in SRAS. C. among firms for workers increases nominal wages and this causes a leftward shift in SRAS. D. among consumers causes an increase in the CPI and a rightward shift in SRAS.
Recall the Application about the merger of Sirius Satellite Radio and XM Satellite Radio to answer the following question(s).Recall the Application. Sirius and XM proposed the merger because they were:
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