At any given quantity, the willingness to pay in the market for gasoline is reflected in the
a. height of the demand curve at that quantity.
b. height of the supply curve at that quantity.
c. value to the producer of the last unit of gasoline sold.
d. total quantity of gasoline exchanged in the market.
a
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Season ticket holders for the St. Louis Rams received a surprise when they read the applications forms to renew their season tickets. In order to get their season ticket to the Rams' home games, they also had to buy tickets to the preseason games
Many season ticket holders grumbled about this practice as an underhanded way for the St. Louis Rams to get more money from its season ticket holders. This practice is an example of: A) peak-load pricing. B) intertemporal price discrimination. C) two-part tariff. D) bundling. E) Both A and B are correct.
Which of the following is an example of cryptocurrency?
A) U.S. dollar B) Japanese yen C) Euro D) Bitcoin
If minimum wages in a monopsony labor market are set above the firm's MFC at its initial hiring level, the effect would be to
A. reduce factor costs. B. increase productivity. C. reduce employment. D. increase the hiring of unskilled workers.
Suppose a profit-maximizing firm in a perfectly competitive market is collecting $1,999 in total revenues. If the total cost of its fixed factors of production falls from $500 to $400, the firm will:
A. earn greater profits or smaller losses. B. expand its output. C. earn smaller profits or larger losses. D. lower its price.