Billie Jo values a stainless steel dishwasher for her new house at $500, but she succeeds in buying one for $425 . Billie Jo's willingness to pay for the dishwasher is
a. $150.
b. $425.
c. $500.
d. $850.
c
You might also like to view...
If Ep is 2500 and Y is 3000, then
A) planned inventory accumulation is 500. B) planned inventory depletion is 500. C) unplanned inventory accumulation is 500. D) unplanned inventory decumulation is 500.
Which of the following would cause a leftward shift in the demand curve for a good?
A) an increase in income B) an increase in the price of a complementary good C) an increase in the price of a substitute D) the expectation that there will be a shortage in the availability of the good
A natural monopoly exists when
a. economies of scale are negligible b. there are a few dominant firms that corner the market c. one firm can produce the market output at lower average cost than two or more firms can d. barriers to entry are low e. only a few firms can minimize cost and maximize profit
A tight monetary policy does all of the following, except
A. raise interest rates. B. drive up the dollar relative to foreign currencies. C. raise net exports. D. increase imports.