What is the equilibrium payoff for the stores?
a. Megastore $95 and Superstore $80
b. Megastore $305 and Superstore $55
c. Megastore $65 and Superstore $285
d. Megastore $165 and Superstore $115
a
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According to the table above, transportation equipment production exhibits
A) decreasing returns to scale. B) constant returns to scale. C) increasing returns to scale. D) varying returns to scale.
When current production of goods and services in an economy is greater than planned aggregate expenditure, _____
a. inventories of goods and services will increase b. firms will increase production to replenish depleted inventories c. businesses and households will increase planned aggregate spending d. the price level will automatically rise to restore equilibrium in the economy e. leakages must equal planned injections
Suppose that Melinda goes to the movies 6 times per month when the price is $14 and 4 times per month when the price is $20. What is the price elasticity of Melinda’s demand curve?
a. 0.02 b. 0.2 c. 1.33 d. 10.0
Which of the following public policies would be least likely to result in more rapid economic growth for a poor or developing country?
a. policies designed to promote economic development in coastal areas b. policies designed to foster strict enforcement of property rights c. policies designed to foster free trade d. inward-oriented policies