When people get satisfaction from charitable giving, they are ______.
a. decreasing their opportunity costs
b. decreasing their utility
c. acting selfishly
d. acting out of rational self-interest
Ans: d. acting out of rational self-interest
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Suppose Always There Wireless serves 100 high-demand wireless consumers, who each have a monthly demand curve for wireless minutes of QdH = 200 - 100P, and 300 low-demand consumers, who each have a monthly demand curve for wireless minutes of QdL = 100 - 100P, where P is the per-minute price in dollars. The marginal cost is $0.25 per minute. Suppose Always There Wireless charges $0.30 per minute. How many minutes will low-demand consumers purchase?
A. 60 B. 30 D. 170
What does the expansion path represent?
What will be an ideal response?
According to classical economists, a decrease in the rate of interest will
A) increase unemployment. B) increase consumer saving. C) increase business investment. D) increase business failures.
Which diagram best represents the problem faced by farms in the long run?
A. A.
B. B.
C. C.
D. D.