Based on Scenario 6.1 above, value added in the United States is
A) $500.
B) $600.
C) $400.
D) $300.
C
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If the price elasticity of demand for airline tickets is 2.0 for a leisure traveler and 0.5 for a business traveler, then a price-discriminating monopolist would charge
A) a higher price for the business traveler than the leisure traveler. B) the same price for both travelers. C) a lower price for the business traveler than the leisure traveler. D) a less profitable price for the business traveler than the leisure traveler.
Aggregate demand curves are
A) downward sloping. B) upward sloping. C) horizontal. D) vertical.
Suppose that the profit maximizing level of output for the monopolist is 10 units, and price = $50, ATC = $35, and AVC = $25. What is the monopoly's profit?
A) $50 B) $150 C) $250 D) $500
In 2014, ________ Americans were arrested.
A. 400,000 B. 1,600,000 C. 140,000,000 D. 11,200,000