Recall the Application about choosing a price for drones based on a linear demand curve to answer the following question(s).Recall the Application. Suppose a firm that produces drones has a linear demand curve for its product, with a vertical intercept of $1,500. If the firm does not want the demand for its product to be price-inelastic, the minimum price it should charge is:
A. $500.
B. $750.
C. $1,000.
D. $1,500.
Answer: B
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An individual receives $100 if the outcome of a coin toss is heads. If the outcome of the coin toss is tails, he loses $50. If the individual weights future loses by a special factor of 2, what is the psychological value of this coin toss?
What will be an ideal response?
The equal wealth and income distribution in the U.S. during its antebellum period can be clearly linked to its system of private property rights over land and minerals
Indicate whether the statement is true or false
The track record of foreign assistance
a. is not very clear. b. shows that it have been very successful in helping poor countries. c. has enhanced the protection of private property rights in less developed countries. d. has drastically reduced corruption in less developed countries. e. has made most economists skeptical.
All of the following would add to the demand for U.S. dollars except:
A. Long-term capital inflows B. Foreign travel by United States citizens C. Exports of commodities from the United States D. Travel by foreigners on United States airlines