Refer to Figure 4-1. If the market price is $2.50, what is the maximum number of ice cream cones that Kendra will buy?
A) 1 B) 2 C) 3 D) 4
C
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Consider a monopolist who charges a single price to all of its customers. If this monopolist starts price discriminating, its output will ________ and its profit will ________.
A. rise; fall B. rise; rise C. fall; rise D. fall; fall
Gross domestic product can be calculated
A) either by valuing the nation's output of goods and services or by valuing the income generated in the production process. B) by adding up the personal consumption of all members of the society. C) by adding up the value of all intermediate goods used in the economy. D) by adding up the income tax returns of all members of the society.
The relationship between a change in the price of a complementary good and demand for another complementary good is
A) positive.
B) negative.
C) inconclusive.
D) zero.
The shortest of the three lags for monetary policy is
A) the impact lag. B) the implementation lag. C) the government lag. D) the recognition lag.