Refer to the information provided in Table 2.2 below to answer the following question(s).Table 2.2?MollyPeteAvatar Design68Tattoo Design32Refer to Table 2.2. For Pete, the opportunity cost of designing three tattoos is ________ avatar designs.
A. 6
B. 12
C. 24
D. an indeterminate number of
Answer: B
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Using the demand schedule in the table above, the total revenue a perfectly price discriminating monopolist receives from selling 5 units of output is
A) $5. B) $15. C) $18. D) $25.
When free international trade takes place, in accordance with a country's comparative advantage,
a. producers in export industries are likely to favor it because they sell a larger quantity at identical prices b. producers in export industries are likely to oppose it because they sell a larger quantity, which lowers prices in accordance with the laws of supply and demand c. producers in import industries are likely to favor it because they sell a larger quantity at only slightly depressed prices d. export industry workers are likely to favor it, import industry workers are likely to hate it e. consumers are likely to be of two minds: they hate the more expensive import goods, but they love the cheaper export goods
When a bank loan is repaid, the supply of money:
A. is constant, but its composition will have changed. B. is decreased. C. may either increase or decrease. D. is increased.
Which of the following is NOT a key assumption of the classical model?
A. People are motivated by self-interest. B. Wages and prices are flexible. C. People cannot be fooled by money illusion. D. There is a single monopoly seller in many markets for goods and services.