You currently sell the same product to both students and faculty members, and are able to prevent transfer from one group to the other. Your current prices, quantities sold, and the absolute values of the slopes of the demand curves are as follows: 
If your marginal cost is $1 and you are interested in maximizing your revenues, how would you adjust your prices?
A. Increase prices for both groups.
B. Decrease prices for both groups.
C. Increase student price and decrease faculty price.
D. Decrease student price and increase faculty price.
Answer: D
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Explain why economists consider it to be one of the economic functions of government to provide a legal system
What will be an ideal response?
By diversifying, the risk of holding stock
a. can be eliminated. On average over the past two centuries stocks paid a higher average real return than bonds. b. can be eliminated. On average over the past two centuries stocks paid a lower average real return than bonds. c. can be reduced but not eliminated. On average over the past two centuries stocks paid a higher average real return than bonds. d. can be reduced but not eliminated. On average over the past two centuries stocks paid a lower average real return than bonds.
An economy growing at a steady rate of 3.1 percent per year doubles in size approximately every __________ years
A) 40 B) 23 C) 32 D) 16
When near-monopolies like Google in Internet search and Amazon in online shopping start infringing on each other's turf, what kind of competition results?
A. legislated competition B. oligopolistic competition C. pure competition D. monopolistic competition