If the price of monthly satellite TV service increases from $40 to $50, the percentage change is:
A. 5 percent.
B. 20 percent.
C. 25 percent.
D. 45 percent.
Answer: C
You might also like to view...
The figure above shows the market for college education in the United States. The marginal external benefit associated with educating 14 million students is ________ per student per year
A) $16,000 B) $13,000 C) $11,000 D) $5,000 E) $7,000
In general economic environments that correspond to lower levels of planned aggregate expenditure for a given level of Y have PAE curves that are:
A. higher on the expenditure diagram. B. lower on the expenditure diagram. C. at multiple points on the diagram. D. equivalent at point in the diagram.
If the firms in a market reach an agreement about pricing and output shares, we would call this
A. a cartel. B. a dominant strategy. C. a Nash equilibrium. D. a duopoly.
A monopsonist is a firm which
A. is a "sole-buyer" in an input market. B. is a price taker in the labor market. C. faces a horizontal demand curve for labor. D. faces a downward sloping demand curve for its output.