Refer to Figure 6.3. Suppose the price of pizza is $8.50. Then the consumer will purchase _____ pizzas and the net benefit is ______.
A. 5; $9.50
B. 4; $8.00
C. 5; $3.50
D. 4; $9.50
B. 4; $8.00
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Fast Copy is a perfectly competitive firm. The figure above shows Fast Copy's cost curves. If the market price is 4 cents per page, what is Fast Copy's profit maximizing level of output?
A) 16 pages per hour B) 32 pages per hour C) 48 pages per hour D) 64 pages per hour
Other things being equal, a fall in the price of Coca?Cola will increase the quantity of Coca?Cola demanded
a. True b. False Indicate whether the statement is true or false
The circular flow model ignores a host of major economic institutions and activities. Focusing on only one basic fact about how the economy works is the model's
a. way of getting around the ceteris paribus assumption b. disadvantage because it distorts reality c. flaw because there is no one single fact about an economy d. strength in providing some understanding about how the economy works e. effectiveness in creating policy recommendations
The auditors who physically examine securities should insist that a client representative be present in order to:
A) Detect fraudulent securities. B) Lend authority to the auditors' directives. C) Acknowledge the receipt of securities returned. D) Coordinate the return of securities to the proper locations.