Consider the same market for nonalcoholic beer as in the previous question. Cudweiser's response function is
a. QB = 2,000 ? .5QC
b. QB = 1,500 ? .5QC
c. QC = 2,000 ? .5QB
d. QC = 1,500 ? .5QB
c
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A homeowner will be away from her house for six months. The monthly mortgage payment on the house is $1,000 . The owner's cost of utilities is $100 if the house is unoccupied but $300 if the owner rents it out. If the owner wishes to minimize her losses from the house while away, she should rent the house for as much as the market will bear, as long as monthly rent is greater than which of the
following? (Assume wear and tear to be zero regardless of whether the house is occupied.) a. $200 b. $300 c. $1,100 d. $1,300
Sellers as a group determine the demand for a product, and buyers as a group determine the supply of a product
a. True b. False Indicate whether the statement is true or false
A cut in government spending, a decrease in income abroad, an increase in taxes, or an expectation that future consumer income will fall will all cause aggregate:
A. demand to shift rightward. B. demand to shift leftward. C. supply to shift rightward. D. supply to shift leftward.
On a supply and demand diagram, a tariff works by
A. moving the supply curve vertically up by the amount of the tariff. B. limiting the amount that can be sold to a specific amount. C. moving the demand curve vertically up by the amount of the tariff. D. moving the supply curve vertically down by the amount of the tariff.