Based on the following graph, if the price of X is $7.50 per unit, how many units of X will a utility-maximizing consumer choose?
The consumer's income is $600.
A. 30
B. 50
C. 35
D. 25
E. none of the above
Answer: C
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Assume a firm is able to use an optimal two-part tariff
a. Is the outcome economically efficient? Why or why not? b. What happens to consumer surplus? c. Does this represent perfect price discrimination? Why or why not? What will be an ideal response?
The likelihood of an individual's vote being significant in a Presidential election is fairly high, especially if they live in a swing state
a. True b. False
In the open-economy macroeconomic model, a higher U.S. real exchange rate makes
a. U.S. goods more expensive relative to foreign goods and reduces the quantity of dollars supplied. b. U.S. goods more expensive relative to foreign goods and reduces the quantity of dollars demanded. c. foreign goods more expensive relative to U.S. goods and reduces the quantity of dollars supplied. d. foreign goods more expensive relative to U.S. goods and reduces the quantity of dollars demanded.
A monopolist:
A. can never incur losses. B. earns a profit in the short run but not in the long run. C. earns a profit in the short run and the long run. D. can earn profits or incur losses in the short run.