The figure above shows Lauren's demand curve for Barbie dolls and the market price for Barbie dolls. In order for Lauren to avoid paying more for dolls than they are worth to her, she must not purchase any more than
A) 0 dolls.
B) 1 doll.
C) 3 dolls.
D) 5 dolls.
E) 4 dolls.
C
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Discuss the likely impact of each of the following on the unemployment rate and on the natural rate of unemployment.:
a. The length of time workers are eligible to receive unemployment benefits is extended by 26 weeks. b. The government passes a law which increases the age of eligibility to collect Social Security benefits. c. The government decides to increase access to Social Security disability benefits.
If the price elasticity of demand is very elastic, which of the following could be a possible value of the elasticity?
A. 2 B. 1 C. 1/3 D. 0
Explain carefully the opportunity costs of a mother's time, what may lead these to change over time, and what effects these changes have on family decisions
What will be an ideal response?
Kate and Alice are small-town ready-mix concrete duopolists. The market demand function is Qd = 20,000 - 200P, where P is the price of a cubic yard of concrete and Qd is the number of cubic yards demanded per year. Marginal cost is $80 per cubic yard. The Cournot model describes the competition in this market. How much does Alice produce in the Nash equilibrium?
A. 2,000 B. 1,333.33 C. 800 D. 4,000