________ is maximized in a competitive market when marginal benefit equals marginal cost
A) Selling price B) Deadweight loss C) Marginal profit D) Economic surplus
D
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Second-degree price discrimination generally takes the form of
a. special prices for students and seniors. b. membership clubs. c. quantity discounts. d. "extras" like free delivery and free customer service.
When a policy creates the most social gain possible, it is considered "best" by the
a. efficiency criterion. b. Pareto criterion. c. Edgeworth criterion. d. maximin criterion.
Answer the next question on the basis of the following information: Three goods are produced in an economy in the following amounts: A = 10, B = 30, C = 5. The current year per unit prices of these three goods are A = $2, B = $3, and C = $1.Nominal GDP in the current year is ________.
A. $110 B. $115 C. $90 D. $45
If the nominal interest rate is ________ and the inflation rate is ________, the real interest rate is positive
A) zero; positive B) negative; zero C) zero; negative D) negative; negative