Which of the following is an example of a price ceiling?
A. the minimum wage
B. rent controls
C. agricultural price supports
D. None of these is correct.
Answer: B
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In the above figure, when the efficient quantity is produced the marginal social benefit of the last magazine is
A) $1. B) $3. C) $5. D) some amount not given in the above three answers.
If in monopolistic competition in the short run, firms make ________ profits, then in the long run, new firms will enter the market. The ________ each individual firm's product will ________
In the new long-run equilibrium firms will make ________ profit. A) economic; demand for; decrease; zero economic B) normal; demand for; increase; zero economic C) economic; supply of; decrease; an economic D) economic; supply of; increase; zero economic
Assume the cross price elasticity of demand between peanut butter and grape jelly is negative
a. Does the cross price elasticity coefficient indicate that peanut butter and grape jelly are substitutes or complements? Why? b. Describe the effect associated with an increase in the price of peanut butter on the the demand for both peanut butter and grape jelly.
You purchased two stocks that are perfectly negatively correlated
A) Your portfolio is well diversified, so you should face no risk whatsoever. B) Even though you diversified the idiosyncratic risk away, your portfolio is still affected by systemic risks like a stock market crash. C) Even though you diversified the systemic risk away, your portfolio is still affected by idiosyncratic risks like a stock market crash. D) Your portfolio is not diversified; thus you face no systemic risk.