Which of the following are examples of market signals?
A. extracurricular activities
B. education
C. warranties
D. all of the above
Answer: D
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Refer to Figure 3-4. At a price of $25, how many units will be supplied?
A) 400
B) 500
C) 600
D) 800
Jim saw a decrease in the quantity demanded for his firm’s product from 8000 to 4000 units a week when he raised the price of the product from $200 to $250. What is Jim’s own price elasticity of demand?
One possible benefit from inflation is:
A. inflation causes restaurants to update their menus more often. B. inflation reduces distortions to relative prices. C. if nominal wages are fixed, inflation decreases real wages. D. if nominal wages are fixed, inflation increases real wages.
Antibiotics tend to be overused, as the producers of antibiotics are required to bear all the costs of antibiotic use false
a. true b. false