The Jeans Store sells 7 pairs of jeans per day when it charges $100 per pair. It sells 8 pairs of jeans per day at a price of $90 per pair. The marginal revenue of the eighth pair of jeans is
A) $20. B) $90. C) $100. D) $700.
A
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Serafina was earning $75 per hour and working 50 hours per week. Serafina's wage rose to $90 per hour, and as a result, she now works 60 hours per week
What can you conclude from this information about the income effect and the substitution effect of a wage change for Serafina?
Which of the following most accurately describes world population growth?
a. World population has increased steadily during the past 6,000 years. b. World population has exhibited significant cyclical patterns of growth and decline. c. World population was relatively small until 1750, after which it increased rapidly. d. World population was small until World War II, after which it increased very quickly.
Refer to Figure d, which illustrates a game played by Travis and Darren. For Darren, East is:
A. the best response.
B. the dominant strategy.
C. weakly dominated.
D. dominated.
The ease with which one asset can be converted into another asset or into goods and services is called:
a. ?durability. b. ?utility. c. ?portability. d. ?liquidity. e. ?divisibility.