The search model predicts that
a. singles bars will be popular
b. computer dating services would reduce the amount of search
c. supermarket price advertisements in the newspaper provide consumers no benefit
d. as a consumer's wage rises, they search more, ceteris paribus
e. common knowledge has no value
A
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In which oligopoly model(s) do firms earn zero profit?
A) Cournot B) Bertrand C) Stackelberg D) Oligopoly firms always earn positive economic profits.
A consumer with a limited income will maximize utility when each good is purchased in amounts such that the
A. marginal utility of each good in a bundle is maximized. B. total utility is the same for each good in a bundle. C. marginal utility per dollar spent on each of the final choices in a bundle is equal. D. marginal utility per dollar spent on each of the final choices in a bundle is maximized for each good.
If the government regulates a monopoly's price below the socially efficient level, then:
A. deadweight loss decreases and there is a surplus of output. B. deadweight loss increases and there is a surplus output. C. deadweight loss increases and there is a shortage of output. D. deadweight loss decreases and there is a shortage of output.
What is the present value of $100 three years from now at an interest rate of 6%?
A) $83.96 B) $82 C) $94.34 D) $119.10