A consumer spends less time searching for a good when her reservation price is:
A. fixed.
B. increased.
C. reduced.
D. None of the answers are correct.
Answer: B
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A share of stock might be included in the definition of the money supply since it serves which of the following functions of money?
A) unit of account and a store of value B) store of value C) medium of exchange since it can be easily sold D) B and C are both correct.
The reward for the capture of Jesse James was $500.00 in 1881. Suppose the CPI in 1881 was 0.25. What is the real value of the reward in 2010 dollars if the CPI was 218.1 in 2010?
What will be an ideal response?
Which of the following is a violation of the antitrust laws?
a. A firm discussing/fixing price with its competitors b. Making arrangements to stay out each other's markets c. Merging with the competitor to eliminate competition d. All of the above are violations
Refer to Figure 9.3. At what quantity is the firm maximizing profit?
A. 0
B. Q1
C. Q2
D. Q3