Sal likes to eat pizza. The ________ is the maximum amount that Sal is willing to pay for one more piece of pizza
A) efficient price
B) efficient amount
C) marginal benefit
D) marginal cost
C
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The analysis of how a customer's tastes for cars will change when his wealth triples is under the scope of:
A) ordinal study. B) comparative statics. C) marginal research. D) Pareto analysis.
Refer to the figure above. The consumer surplus before the tax is imposed is given by the area ________
A) BCJ B) BAH C) CAE D) JBHF
When interest rates in the bond market rise,
A) adverse selection problems increase. B) adverse selection problems are mitigated. C) moral hazard problems increase. D) moral hazard problems are mitigated.
If we were to compare the monopolistically competitive firm's long run outcome to that of a perfectly competitive one, we would conclude that the monopolistically competitive firm:
A. creates more total surplus. B. produces less. C. charges less. D. earns greater profits.