Refer to the graphs shown.
Which of the following combinations of points best illustrates rational consumer choice assuming the consumer's budget is $60, the price of X is $3, and the price of Y is $3?
A. A and D
B. C and F
C. B and E
D. A and F
Answer: C
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Refer to the table below. Suppose the columns in this table reflect demand and supply. At a price of $30:Price PerUnitColumn A UnitsPer YearColumn B UnitsPer Year$2010040$309550$408060$506570$605080
A. there will be an excess supply of 45 units. B. there will be an excess demand of 45 units. C. the market will be in equilibrium. D. there will be an excess demand of 95 units.
? Assume that Figure 4-4 shows demand for orange juice. A decrease in the price of apple juice will change demand from
A. D1to D2. B. D2to D1. C. D2to D3. D. D1to D3.
Describe the marginal revenue curve in relationship to the demand curve for a monopoly. Why is it like that?
What will be an ideal response?
Which of the following correctly explains how expansionary monetary policy works?
A) G? ? C? ? Y? B) T? ? C? ? Y? C) M? ? i? ? I? ? Y? D) M? ? i? ? I? ? Y?