Typically, in towns and villages across the Midwest, bowling alleys are one-story buildings. In Manhattan, one is more likely to bowl in alleys found in multi-story high rises. Why?
A) Because Midwesterners live on flat lands, they think flat and build flat.
B) The bowling cultures are different.
C) The cost of building single-story bowling alleys in Manhattan is too high.
D) Midwestern zoning codes must prohibit bowling alleys in multi-story structures.
C
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GDP per capita is:
A. negatively correlated with quality of life. B. highly correlated with quality of life. C. loosely correlated with quality of life. D. perfectly correlated with quality of life.
Consider a market characterized by the following inverse demand and supply functions: PX = 10 - 2QX and PX = 2 + 2QX. Compute the number of units exchanged and the price at which those units will be exchanged when there is an $8 per unit price floor.
A. 3 units and $6 per unit. B. 3 units and $8 per unit. C. 1 unit and $6 per unit. D. 1 unit and $8 per unit.
The price of a new textbook is $120 in one year and is $150 two years later, while the price of a used copy of the text increased from $40 to $60. The relative price of a new textbook
A. decreased from 3 to 2.5. B. increased from 3 to 4.5. C. decreased from 0.8 to 0.67. D. remained constant.
The airline industry is a good example of a monopolistically competitive industry.
Answer the following statement true (T) or false (F)