A monopoly's goal using price discrimination is to increase
A) total revenue.
B) marginal revenue.
C) total profit.
D) the per unit profit.
Answer: C
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The mangers of Healthy Snacks and Healthy Bars are engaged in a strategic interaction in which their interests are aligned, but there is more than one possible equilibrium. All of the following can help the managers determine the equilibrium outcome except which one?
A) an announcement made by either firm regarding their future plans B) bargaining C) a focal point D) the Pareto criterion
Suppose that the price of eggs increases from 75 cents to $1.00 per dozen and as a result a typical farmer experiences a decrease in egg sales from 300 to 200 dozen per week
Using the method of average values, the absolute price elasticity of demand is A) 1.4. B) 0.8. C) 3.0. D) 1.75.
If the economy were producing at point D and moved to point C the opportunity cost in terms of lost production of outboard motors would be
A. 2 units of outboard motors.
B. 4 units of outboard motors.
C. 12 units of outboard motors.
D. 11 units of robots.
If a $10 trillion economy is growing at a real rate of 2.5 percent a year, what must this economy do to maintain a constant debt-to-GDP ratio?
A. Have increasingly smaller deficits B. Maintain a balanced budget C. Run increasingly larger surpluses D. Have increasingly larger deficits