On June 3, 2005, it cost 1.22 U.S. dollars to buy one euro. How many euros did it take to buy one U.S. dollar?
a. 0.82 euros
b. 0.88 euros
c. 1.22 euros
d. 88 euros
a
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Suppose that Dave has $200 to spend per week and he buys only magazines and pizza. The price of a pizza is $10 and the price of a magazine is $5. If Dave buys 15 pizza each week, what is the maximum number of magazines can he buy?
A) 40 B) 20 C) 10 D) 200
Consumer surplus is the value of a good minus the cost of producing it, summed over the quantity bought
Indicate whether the statement is true or false
Given that the firm offers both the products, what is the maximum price it can charge for the high-end wok to have the chefs only buy the high-end wok?
a. $70 b. $80 c. $90 d. $100
If a monopolist's marginal revenue is less than zero over a range of output, then price elasticity of demand must be: a. greater than one. b. equal to one
c. less than one. d. equal to zero.