Refer to Figure 4-3. What is the total amount that Kendra is willing to pay for 1 ice cream cone?
A) $0.50 B) $3.50 C) $9.00 D) $13.50
B
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When the quantity of capital increases, then the
A) LAS curve shifts rightward and the SAS curve does not shift. B) SAS curve shifts rightward and the LAS curve does not shift. C) SAS curve shifts rightward and the LAS curve shifts rightward. D) SAS curve shifts rightward and the LAS curve does shifts leftward.
A monopolist sells a homogeneous good in several distinct submarkets, and the elasticities of demand differ in these submarkets
If the monopolist selects the rate of output to sell in each submarket by equating marginal revenue and marginal cost, then A) all customers in all markets end up paying the same price. B) it is not price discriminating, but merely price differentiating. C) customers in markets with more elastic demand will pay higher prices than customers in markets with less elastic demand. D) customers in markets with more elastic demand will pay lower prices than customers in markets with less elastic demand.
Which of the following is true of the relationship between price and marginal cost under monopolistic competition?
a. P = MC at all levels of output b. P = MC only at the profit-maximizing quantity c. P > MC at the profit-maximizing quantity d. P < MC at the profit-maximizing quantity e. P < MC at the quantities below the profit-maximizing quantity
Which of the following is not a possible implication of federal budget deficits?
a. Crowding out b. Increased interest rates c. Inflation d. Increased trade deficits e. Depreciation of the dollar