Once faculty receive textbooks and choose not to use them, they are
A. free to do what they wish with the book, including selling it.
B. required to mail them back to the publisher.
C. required to destroy the book.
D. required to give the book to a student or library.
Answer: A
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Refer to Scenario 3.1 below to answer the question(s) that follow.SCENARIO 3.1-Streaming movies and movies shown in theaters are substitutes. -Streaming movies and OLED TVs are complements. -OLED TVs and movies shown in theaters are normal goods. -People watch streaming movies more often in the winter than in the summer.Refer to Scenario 3.1. In response to complaints from movie theater owners, the government removes an entertainment tax on movie tickets, but there are no additional taxes levied on streaming movies. This would lead to
A. a decrease in the price of movie tickets and the price of streaming movies. B. no change in the price of a movie ticket and a decrease in the price of streaming movies. C. a decrease in the price of movie tickets, but no change in the price of streaming movies. D. a decrease in the price of a movie ticket and an increase in the price of streaming movies.
The table above lists six points on the production possibilities frontier for grain and cars. What is the opportunity cost of producing the 26th car?
A) 2 tons of grain per car B) 4 tons of grain per car C) 0.25 tons of grain per car D) 0.5 tons of grain per car
What are the implications for economic growth for countries specializing in capital goods rather than consumer goods? What is the opportunity cost of this decision?
What will be an ideal response?
Under perfect price discrimination, consumer surplus
A) is less than zero. B) is greater than zero. C) equals zero. D) is maximized.