Refer to Figure 9-5. With the tariff in place, the United States consumes
A) 18 million pounds of coffee. B) 20 million pounds of coffee.
C) 26 million pounds of coffee. D) 38 million pounds of coffee.
D
You might also like to view...
If an increase in investment spending of $20 million results in a $200 million increase in equilibrium real GDP, then
A) the multiplier is 0.1. B) the multiplier is 1. C) the multiplier is 10. D) the multiplier is 100.
Using community indifference curves to reflect tastes of the community
A) is a simple extension of indifference curve analysis because people are so different. B) cannot usually be done because the community may have inconsistent tastes even though its residents do not. C) is a simple extension of indifference curve analysis if people are all alike. D) Both B and C.
The managers of Movies Plus, a large movie theater, want to practice third-degree price discrimination. The managers have learned that college students have an own price elasticity of demand of 4.0 for tickets at Movies Plus and adults have an own price elasticity of 2.0. If the managers have correctly determined the third-degree profit-maximizing price for adults is $10, what is the third-degree
profit-maximizing price to charge students? A) $5.50 B) $15.00 C) $6.67 D) $12.00
The way most insurance companies determine their premiums might best be described as ______.
a. individualized service b. one size fits all c. playing the averages d. random selection