A duopolist faces the entire market demand for its product if ________
A) it charges a lower price than its rival
B) it charges a higher price than its rival
C) it charges the same price as its rival
D) it charges a price higher than its cost of production
A
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Which of the following is NOT a way to signal high quality
a. wearing a business suit on a job interview b. scrimping on the tip for the waiter after a dinner date c. offering an expensive engagement ring to your bride d. Visiting the beauty salon before a big date
Assume the government decides to reduce spending in order to reduce the budget deficit, which it financed by borrowing in the real credit market. Where and how should you begin your analysis when analyzing the chain reaction of economic interactions?
a. Start the analysis in the real goods market with aggregate demand shifting to the right. b. Start the analysis in the real goods market with aggregate supply shifting to the left. c. Start the analysis in the real goods market with aggregate supply shifting to the right. d. Start the analysis in the real credit market with demand for real credit shifting to the left. e. Start the analysis in the real credit market with demand for real credit shifting to the right.
Which of the following students would be most likely to drop out of college before completing their degree?
a. a senior physics major with a solid B average b. a junior secondary education major who has just read about the substantial improvement in the job opportunities available for teachers with a college degree c. an outstanding baseball player in his junior year that just received a $500,000 offer from a professional team d. a junior economics major who wants to attend law school
Suppose there are only two goods (Good A and Good B) and the average person buys 8 of Good A in a year and 6 of Good B. If, in the base year, the Price of Good A is $8 and the Price of Good B is $6, and in the next year the Price of Good A is $10 and the Price of Good B is $5, the price index in the second of the two years
A. is 100. B. is 110. C. is 10. D. is 120.