The following are comments by consumers about the wheat market. Which of them reflects a perfectly competitive market?
a. “It is unusual for a company to leave the wheat market.”
b. “Getting into the wheat market can be difficult.”
c. “The quality of wheat often declines as the price rises.”
d. “It doesn‘t matter where you buy wheat, the quality is the same.”
d. “It doesn‘t matter where you buy wheat, the quality is the same.”
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If the monopoly illustrated in the figure above could engage in perfect price discrimination, then it would sell
A) 30 tickets. B) 50 tickets. C) 60 tickets. D) 100 tickets.
What are the two components of a firm's total cost in the short run, and what are their definitions?
What will be an ideal response?
Desired consumption is Cd = 2000 + 0.9Y - 100,000r - G, and desired investment is Id = 1000 - 45,000r. Real money demand is Md/P = Y - 6000i. Other variables are ?e = 0.03, G = 500, 
= 1000, and M = 2100.(a)Find the equilibrium values of the real interest rate, consumption, investment, and the price level.(b)Suppose government purchases decline to 400. What happens to the variables listed in part (a)? (c)Suppose government purchases rise to 600. What happens to the variables listed in part (a)? (d)What feature in this example leads to the result that you don't need to know the amount of taxes collected by the government to find the equilibrium?
What will be an ideal response?
What function is money serving when you buy a ticket to a movie?
A. A unit of account. B. A transaction demand. C. A medium of exchange. D. A store of value.