Sarah buys little stuffed animals for $5 each. They come in different varieties. If the producer stops making (retires) a certain variety, a stuffed animal of that variety will be worth $100; otherwise it is worth $0. There is 50% chance that any variety will be retired. What is the value to Sarah of knowing ahead of time whether a variety will be retired?
A) $50
B) $5
C) $2.50
D) $0
C
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The economizing problem is essentially one of deciding how to make the best use of
A. unlimited resources to satisfy limited economic wants. B. limited resources to satisfy limited economic wants. C. limited resources to satisfy unlimited economic wants. D. unlimited resources to satisfy unlimited economic wants.
For a single-price monopolist, price is ________ marginal revenue
A) less than B) greater than C) equal to D) less than or equal to but never more than
A primary problem for Brazil from 1980 to 1995 was inflation
Indicate whether the statement is true or false
which of the following is the incorrect statement
a. during a period of inflation, prices are always rising b. when inflation is decreasing, prices are always falling c. if the inflation is constant, prices are neither rising or falling d. a and b are incorrect e. b and c are incorrect