In 2016, the face value of tickets to the Broadway musical Hamilton was
A) above the equilibrium price.
B) below the equilibrium price.
C) set exactly at the equilibrium price.
D) lowered due to falling demand.
Answer: B
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A. not shift, but there will be a movement along that demand curve. B. shift to the right. C. shift to the left. D. become upward-sloping.
The benefit of a one-unit increase in an activity
A) decreases as you do more of it. B) is called rational-choice benefit. C) is called marginal cost. D) is always greater than the opportunity cost of that activity. E) is measured by what you must give u
In the figure above, the total benefit from pizza is ________ per day
A) $100,000 B) $50,000 C) $125,000 D) $150,000 E) None of the above answers is correct.
Universities sometimes hire professors who are poor teachers but have good research skills because
a. research ability is more important in education than teaching ability b. students don't listen to professors anyway c. teaching can be learned; research ability cannot d. research skills are easier to measure than teaching skills e. research skills are difficult to measure