The demand function for tickets to Ireland is expressed as Qd = 1600 - 0
005P + 2 PEngland + 3rain + 2Y, where P is the price for tickets to Ireland, PEngland is the price of tickets to England, rain is the inches of rain Ireland receives annually, and Y is annual household income. Assuming PEngland is $1000, rain is 30 inches per year, and income is 40,000, how much would the price of tickets to Ireland have to fall for consumers to be willing to buy one more trip per year? A) $15
B) $20
C) $50
D) $200
D
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With perfect price discrimination, each consumer is charged the marginal value of each unit consumed
a. True b. False
Borrowing VCU3 from an online company cause the nation's:
a. Monetary base to fall. b. M2 money supply to rise. c. M2 money multiplier to fall. d. Monetary base to remain the same.
The impact of a decrease in expected inflation in the bond market will have a relatively large effect on the prices of bonds prices because the bond demand curve:
A. will shift right as will the bond supply curve. B. will shift left as the bond supply curve shifts right. C. and supply curves will shift left. D. will shift right but the bond supply curve shifts left.
The improvement in outcomes that occurs when specialized producers exchange goods and services is called:
A. gains from trade. B. absolute advantage. C. comparative advantage. D. specialization.