The paintings of a world famous artist Vincent Van Gogh have a price elasticity of supply
A) equal to 2.0.
B) equal to 1.0.
C) close to 0.0.
D) approaching infinity.
C
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If a country's international reserves are increasing, then its exchange rate is ________ and there is a balance-of-payments ________.
A. undervalued; surplus B. overvalued; surplus C. overvalued; deficit D. undervalued; deficit
Consider a production possibilities frontier with corn on the vertical axis and cars on the horizontal. Unusually good weather for growing corn shifts
A) the horizontal intercept rightward and the vertical intercept upward. B) the horizontal intercept rightward but does not shift the vertical intercept. C) the vertical intercept upward but does not shift the horizontal intercept. D) neither the horizontal intercept nor the vertical intercept.
What is game theory?
What will be an ideal response?
A monopolist sells 100 units at $10 per unit and 90 units at $15 per unit. The marginal revenue from the tenth unit is
A) $1000. B) $1350. C) $100. D) $350.