Refer to the accompanying figures. If Mallory and Rick are the only two consumers in this market, then the market demand for soda will be 90 cans per month when the price of a can of soda is ________.
A. $1.50
B. $0.75
C. $0.50
D. $1.25
Answer: C
You might also like to view...
The signaling effect of foreign exchange intervention
A) never has any effect on exchange rates. B) can alter the market's view of exchange rates independent from the stance of monetary and fiscal policies. C) cannot cause an immediate exchange rate change when bonds denominated in different currencies are perfect substitutes. D) never leads to actual changes in monetary or fiscal policy. E) can alter the market's view of future monetary policies and cause an immediate exchange rate change.
If the wage rate is fixed at a certain level, the:
a. labor supply curve is horizontal. b. labor supply is a straight upward sloping line. c. MP must be constant. d. labor supply will increase at an increasing rate. e. labor supply will increase at a decreasing rate.
To say that the demand for labor is a derived demand means that
a. the quantity of labor is derived by the real wage rate b. the demand for labor depends upon the demand for the product produced by labor c. the supply of labor rises when the demand for labor falls d. equilibrium in the resource market ensures there is equilibrium in the product market e. changes in the demand for labor lead to changes in the demand for the product produced by labor
The presence of government in the market leads to:
A. benefits at no cost to society. B. rent seeking. C. adverse selection. D. externalities.