The branch of economics that examines the functioning of individual industries and the behavior of individual decision-making units is
A. microeconomics.
B. positive economics.
C. macroeconomics.
D. normative economics.
Answer: A
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Using the demand schedule in the above table, if the firm's marginal cost is constant at $3.00, output for a perfectly price discriminating monopolist is
A) 2 units. B) 3 units. C) 4 units. D) 5 units.
Consumption spending includes:
a. durable goods, nondurable goods, and housing. b. durable goods, nondurable goods, and imports. c. durable goods, services, and housing. d. durable goods, nondurable goods, and services. e. nondurable goods, services, and housing.
A demand curve is upward sloping because as the price decreases the quantity demanded decreases
Indicate whether the statement is true or false
Consumers face a higher tax burden when demand is more elastic, other things constant
a. True b. False Indicate whether the statement is true or false