Two telephone networks that grant access so they can complete each others' calls will be motivated to set efficient prices
Indicate whether the statement is true or false
F They can be motivated to set double mark ups, or to price with double marginalization, which is inefficient.
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In the Classical model, what is certain to shift the aggregate demand curve?
A) A rise in the price level B) A rise in real GDP C) A rise in the money supply D) A rise in government expenditure
A risk averse individual
a. values a lottery at more than its expected value b. values a lottery at exactly its expected value c. values a lottery at less than its expected value d. tends to play lots of lotteries
In the figure above, if the market price is $12, then the total consumer surplus is
A) $12. B) $10. C) minimized. D) $240. E) $480.
Which of the following will have no impact on the demand for ice cream in the short run?
a. A change in population size b. A change in the price of ice cream c. A change in seasons d. A change in consumer preferences e. A change in consumer incomes