An increase in consumer incomes will lead to
A) a rightward shift of the demand curve for plasma TVs.
B) a movement upward along the demand curve for plasma TVs.
C) a rightward shift of the supply curve for plasma TVs.
D) no change of the demand curve for plasma TVs.
A
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If the value of the marginal product of physical capital is $20 and the value of the marginal product of labor is $5, the highest price that a firm should pay for an additional unit of physical capital is:
A) $4. B) $5. C) $20. D) $100.
Monopolists are able to price discriminate because
A) of differing willingness to pay among consumers. B) of differing price elasticities of supply. C) they have constant marginal cost. D) they have constant average cost.
Governments can make trading easier and more beneficial by:
A. setting quotas. B. limiting private restrictions on trade. C. providing merit goods. D. establishing externalities.
Using the above figure, the price facing the perfectly competitive firm in the long run will be
A. P1. B. P2. C. P3. D. P4.