The market structure where there is a single supplier of a good or service for which there is no close substitute is
A) a price searcher.
B) a monopoly.
C) a tariff.
D) the most economically efficient market structure.
B
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If you like Oreos more than Chips Ahoy but like Nutter Butters more than Oreos, by the property of transitivity you like
A. Oreos more than Nutter Butters. B. Nutter Butters more than Chips Ahoy. C. Chips Ahoy more than Nutter Butters. D. Nutter Butters more than Oreos.
Refer to Figure 10-7. Suppose the price of Pilates sessions rises to $30 while income and the price of Yoga sessions remain unchanged. What is her new optimal bundle?
A) still remains at bundle A. B) bundle B. C) bundle C. D) bundle D.
If the dollar interest rate is 10 percent and the euro interest rate is 6 percent, then
A) an investor should invest only in dollars if the expected dollar depreciation against the euro is 8 percent. B) an investor should invest only in euros if the expected dollar depreciation against the euro is 8 percent. C) an investor should be indifferent between dollars and euros if the expected dollar depreciation against the euro is 8 percent. D) an investor should invest only in dollars. E) an investor should invest only in euros.
If a perfectly competitive firm is producing the short-run profit-maximizing quantity and is earning negative economic profits, the firm should anticipate ________.
A) the market supply to increase B) the market supply to decrease C) new firms to enter the market D) the market equilibrium price to decrease