“Peak pricing” involves setting lower prices at peak times so that people can afford a good or service.
Answer the following statement true (T) or false (F)
False
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If the price of inputs rises and personal income taxes rise:
a. Aggregate demand rises, but aggregate supply does not change. b. Aggregate demand falls, and aggregate supply rises. c. Aggregate demand and aggregate supply rise. d. Aggregate demand and aggregate supply fall. e. Neither aggregate demand nor aggregate supply change.
If the marginal cost were $21, output would be
A. 1.
B. 2.
C. 3.
D. 4.
An economy in which output has decreased and prices have decreased would suggest a:
A. decrease in short-run aggregate supply. B. increase in aggregate demand. C. increase in short-run aggregate supply. D. decrease in aggregate demand.
If you were going to expand a facility by adding 10% more seats, and the costs of providing ushers and other personnel to deal with the new seats was exactly the same (on a per seat basis) as the older portion of the facility, the new MC curve would look like the previous one, except that it would
A. just shift to the right. B. just shift up. C. no longer be a backward L but would be upward sloping once the old capacity was reached. D. just shift to the left.