If DeShawn only pays $25,000 to purchase a new car even though he would have been willing to pay as much as $35,000 for the care, this indicates
What will be an ideal response?
DeShawn reaped $10,000 of consumer surplus from he transaction
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Given that shares are riskier than bonds, why do investors invest in equity?
What will be an ideal response?
The cross-price elasticity of demand is measured by the
a. change in quantity demanded of one good divided by the change in price of another good b. percentage change in quantity demanded of one good divided by the percentage change in its price c. percentage change in demand for one good divided by the percentage change in income d. percentage change in quantity supplied of one good divided by the percentage change in the price of another good e. percentage change in quantity demanded of one good divided by the percentage change in price of another good
Say's Law states that:
A. Increased prices lead to increased supply. B. Opportunity costs will always increase. C. Supply creates its own demand. D. High prices cause unemployment.
In representative democracy, voters are ____________ and politicians are __________.
A) agents; employees B) agents,principals C) logrollers; principals D) principals; agents