Suppose the inverse market demand is given by P = 75 ? 0.5Q. If the incumbent continues to produce 20 units of output, which of the following equations best summarizes the potential entrant's residual demand curve?
A. P = 65 ? 0.5Q
B. P = 20 ? 0.5Q
C. P = 65 ? 2Q
D. P = 150 ? 2Q
Answer: A
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The Denver Broncos is a football team in the NFL, the Colorado Crush was an arena football team, and the Highlands Ranch Falcons is a local High School team
Broncos tickets cost about $415, Crush tickets cost between $30 and $85 and Falcons tickets are $6. What does marginal utility theory predict about the marginal utility per dollar from each of these football games? A) The marginal utility per dollar will be greatest for the Broncos. B) The marginal utility per dollar will be equal for all games. C) The marginal utility per dollar will be greatest for the Crush. D) The marginal utility per dollar will be greatest for the Falcons.
Approximately how many commercial banks are there in the United States as of 2017?
A. 7,300 B. 6,000 C. 8,500 D. 14,500
A plot of points representing the rate of inflation and the unemployment for the United States since 1953 reveals that
A) there does not appear to be any trade-off between the two variables. B) there is an inverse relationship between the two variables. C) there is a positive relationship between the two variables. D) none of the above.
Which of the following countries has experienced negative economic growth in the last 20 years?
A) Zimbabwe. B) Chad. C) The United States. D) China.