According to the above table, Hillary's marginal utility from watching the 5th movie is
A. 170 units of utility.
B. 20 units of utility.
C. 30 units of utility.
D. 50 units of utility.
Answer: C
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A monopolistic industry will have a Herfindahl index value of:
a. 1. b. 100. c. 500. d. 1000. e. 10.
A bank's off-balance-sheet activities usually:
A. increase its net income but do not change its assets or liabilities. B. increases a bank's assets but not its liabilities. C. increases a bank's liabilities but not its assets. D. increase both its assets and liabilities while reducing net income.
Suppose a price index is formed to measure changes in the price level between 1999 to 2005. A price index based on changes in the cost of the basket of goods purchased by the typical consumer in 2005 is called a
a. relative price index. b. consumer price index. c. Laspeyres price index. d. Paasche price index.
Refer to Figure 4-5. The figure above represents the market for pecans. Assume that this is a competitive market. If the price of pecans is $9, what changes in the market would result in an economically efficient output?
A) The price would decrease, the demand would increase, and the supply would decrease. B) The quantity supplied would increase, the quantity demanded would decrease, and the equilibrium price would decrease. C) The price would decrease, the quantity supplied would decrease, and the quantity demanded would increase. D) The price would increase, the quantity demanded would decrease, and the quantity supplied would increase.