Using the above table, what is the maximum number of slices of pizza a rational consumer would buy?
A. 4
B. 3
C. 2
D. 1
Answer: B
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A perfectly price discriminating monopolist's profit is ________ the profit of a monopolist who charges the same price to all of its customers.
A. the same as B. higher than C. sometimes less than and sometimes greater than. D. less than
Which of the following scenarios is an example of an investment in human capital?
A. A firm replaces manually controlled production with a computer-controlled procedure. B. A chemical firm supports research to develop new chemicals. C. A firm purchases new equipment for a manufacturing process. D. A firm pays for workers to take college classes.
Suppose the Fed raises the federal funds rate. Put the following changes in order in which they occur, starting with the changes that take place almost immediately and ending with the changes that may occur up to two years afterwards:
i. Short-term interest rates rise. ii. Long-term interest rate rises. iii. Aggregate demand decreases. iv. Inflation rate decreases. A) ii-i-iv-iii B) ii-i-iii-iv C) i-ii-iv-iii D) i-iii-ii-iv E) i-ii-iii-iv
Which of the following is an example of a good produced under monopoly?
A) CDs B) Books C) Aerated drinks D) Patented software