As the interest rate falls, the quantity
A) demanded of money falls.
B) demanded of money rises.
C) supplied of money rises.
D) supplied of money falls.
B
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The figure above shows the market for a good with an external benefit. When 6 units are produced, marginal social benefit equals ________ and marginal external benefit equals ________
A) $200; $150 B) $350; $200 C) $200; $50 D) $350; $150 E) $150; $250
If Best Office Supply states that it will meet any competitor's price on a 500 pack of copy paper and beat it by 10 percent, this is an example of ________.
A) a barrier to entry B) a meet-the-competition clause C) price leadership D) a preannouncement
Refer to the information provided in Figure 4.1 below to answer the question(s) that follow.
Figure 4.1Refer to Figure 4.1. At the price of ________ cents per apple, the United States imports 6 million apples per day.
A. 20 B. 30 C. 40 D. 60
Using the figure above, which of the following statements is (are) correct?
i. MR = MC when 3 haircuts are produced. ii. If the firm charges each customer the same price for a haircut, the price of a haircut is $42. iii. The firm's MC equals $30. A) i only B) ii only C) i and ii D) i and iii E) None of the above is correct.