Prashanth decides to buy a $75 ticket to a particular New York professional hockey game
A. is relatively unappreciative of the arts.
B. obtains more marginal utility from the play than from the hockey game.
C. has a higher "marginal utility-to-price ratio" for the hockey game than for the play.
D. has recently attended several other Broadway plays.
Answer: C
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The relationship between the quantity of money balances demanded and the interest rate is
A) contractionary monetary policy. B) determined by open market operations. C) negative. D) the reserve requirements.
If a firm is able to practice first-degree price discrimination, the firm will produce ________ than if they charged a single price to all consumers and the firm will earn ________ profit than if they charged a single price to all consumers.
A) more; more B) less; more C) more; less D) less; less
The supply curve reflects the:
a. inverse relationship between price and quantity offered. b. positive relationship between demand and supply. c. negative relationship between price and quantity bought. d. positive relationship between price and quantity bought. e. positive relationship between price and quantity offered.
Effective labor unions have an impact on prices of goods their workers produce.
Answer the following statement true (T) or false (F)