The following graph shows the supply of movie downloads. What is the market quantity that would be supplied at a price of $2.00?
A. 3 movies per week
B. 7 movies per week
C. 4 movies per week
D. 2 movies per week
Answer: B
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The reserve ratio is 10 percent. If the bank receives a customer deposit of $100,000, then an immediate effect is
A) a reduction in the bank's total assets of exactly $10,000. B) no change in the bank's total assets or total liabilities. C) a reduction in the bank's total liabilities of exactly $10,000. D) an increase in the bank's reserves of exactly $10,000.
Max has allocated $100 toward meats for his barbecue. His budget line and an indifference map are shown in the above figure. What happens if Max's mother gives him 10 pounds of burger?
A) Max would have preferred receiving the dollar value of the burger. B) Max is indifferent between this gift and the dollar value of the burger. C) Max prefers this gift to the dollar value of the burger. D) None of the above.
If the marginal utility of apples exceeds the marginal cost of producing apples, then in a free market production of apples will ____, with the likely result that marginal utility will ____.
A. rise; fall B. fall; rise C. rise; rise D. fall; fall
In the case of positive externalities, social benefits are __________ internal benefits.
A. less than B. equal to C. sometimes greater and sometimes less than D. greater than