Price discrimination adds to social welfare in the form of (i) increased total surplus. (ii) reduced costs of production. (iii) increased consumer surplus
a. (i) only
b. (i) and (ii) only
c. (i) and (iii) only
d. (i), (ii), and (iii)
a
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A valid and useful theory of gold prices:
A) helps to predict the movements of gold prices over time. B) may be founded on simplifying assumptions. C) need not exactly predict every change in gold prices. D) all of the above E) none of the above
Agraria uses bushels of wheat to quote prices. In this case, bushels of wheat act as a
a. medium of exchange. b. store of value. c. commodity value. d. unit of account.
The following scatterplot displays the 1990 per capita income versus number of deaths due to traffic accidents per 100,000 people for each of the 50 states plus the District of Columbia.Which of the following is a plausible value for the correlation coefficient between weight and MPG?
A) +0.2 B) –0.5 C) +0.7 D) –1.0
A move from G to H represents
A. an increase in quantity supplied.
B. a decrease in quantity supplied.
C. an increase in supply.
D. a decrease in supply.