A monopoly's goal using price discrimination is to increase
A. total profit.
B. total revenue.
C. the per unit profit.
D. marginal revenue.
Answer: A
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In the case of a linear demand curve, demand becomes more price elastic as price increases
Indicate whether the statement is true or false
From an economic perspective, when a consumer decides to buy more life insurance, the consumer has most likely concluded that the:
A. Marginal cost of more insurance coverage is negative B. Marginal benefit of more insurance coverage is greater than zero C. Marginal benefit of more insurance coverage is greater than the marginal cost D. Marginal cost of more insurance coverage is equal to the payment for the extra coverage
Hurricane Katrina caused refineries and oil rigs in New Orleans and in the Gulf of Mexico to close down. In the market for gasoline, Hurricane Katrina caused
A. a decrease in demand. B. a decrease in supply. C. an increase in demand. D. an increase in supply.
In the linear equation y = mx + b, an increase in b will:
A. shift the curve down. B. shift the curve up. C. cause the curve to become flatter. D. cause the curve to become steeper.