Refer to Table 4-2. The table above lists the highest prices five consumers are willing to pay for a concert ticket. If the price of one of the tickets is $20
A) only Violet and Walter will buy tickets.
B) everyone will buy a ticket except for Zachary.
C) the total consumer surplus from the purchase of tickets will be $122.
D) Xavier's consumer surplus is $50.
B
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A decrease in the price of gasoline shifts the demand for auto batteries to the
A. left, because gasoline and auto batteries are substitutes. B. left, because gasoline and auto batteries are normally used together. C. right, because gasoline and auto batteries are substitutes. D. right, because gasoline and auto batteries are normally used together.
Explain how the volunteer's dilemma is a special case of the public goods problem in which the possibility exists that no one will end up providing the public good
What will be an ideal response?
Suppose that the spot exchange rate for a foreign currency is equal to $120, while the interest rate in dollars is 2% and the interest rate in the foreign currency is 3%. What is the approximate forward rate that is consistent with this situation?
A) $115.56 B) $124.44 C) $118.77 D) None of the above.
Which of the following statements is false?
A. The recession of 2001 was mild. B. Output in the United States fell by about one-half between 1929 and 1933. C. The inflation rate declined during the Eisenhower and Reagan administrations. D. None of these statements are false