A physical book that sells new for $200 will typically sell as an e-book for around
A. $200.
B. $50.
C. $100.
D. $150.
Answer: C
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A decrease in the cost of production will shift the supply curve down and to the right
Indicate whether the statement is true or false
An increase in the real interest rate will
A) most likely lower the reward to savings. B) most likely lower the cost of borrowing. C) most likely lower consumers' purchases of durable goods. D) cause consumers to spend more and save less.
All else constant, an improvement in technology at each scale of operation would cause:
A) a movement up an industry's LRAC curve. B) a movement down an industry's LRAC curve. C) an upward shift of an industry's LRAC curve. D) a downward shift of an industry's LRAC curve.
The ________ accommodates a much broader range of observed behavior than traditional economic models, but has been criticized because virtually any bizarre behavior can be explained by assuming people have a sufficiently strong taste for it.
A. present aim standard of rationality B. ultimatum bargaining game C. adaptive rationality standard D. availability heuristic