A monopolist will maximize its profits by charging a higher price for customers with a price elasticity of
A) 0.7.
B) 1.
C) 1.5.
D) 10.
Answer: A
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Refer to Table 9-4. Use the table above to select the statement that accurately interprets the data in the table
A) Bill has an absolute advantage in picking berries and catching fish. B) Rob has an absolute advantage in picking berries and catching fish. C) Bill has an absolute advantage in picking berries and Rob has an absolute advantage in catching fish. D) Rob has an absolute advantage in picking berries and Bill has an absolute advantage in catching fish.
If the boxing match will be the "fight of the century" which has dramatically increased Sally's payoffs for going to the fights, even without Sam, and Sam knows that, what would the Nash equilibrium be now?
a. Boxing, boxing b. Ballet, ballet c. Ballet, boxing d. Boxing, boxing
Which of the following will result from an epizootic affecting sheep reared for wool?
a. The epizootic would lower people's preference for woolen clothes. b. The price of new woolen clothes would rise. c. The epizootic would lower people's preference for synthetic coats. d. The production of new woolen clothes would rise.
In 2009, over two-thirds of personal income received by U.S. households came from:
a. wages and salaries. b. transfer payments. c. dividends on stocks and bonds. d. interest payments and rent.