You can capture a bigger piece of the pie if
a. You can decrease your counter party's gains from reaching an agreement
b. You can increase you gain from reaching an agreement
c. All of the above
d. None of the above
d
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Use the following graph for a competitive market to answer the question below.
Assume the government imposes a $2.25 tax on suppliers, which results in a shift of the supply curve from S1 to S2. The amount of the tax paid by the seller is
A. $2.25. B. $0. C. $1.00. D. $1.25.
The above figure shows the demand and cost curves for a firm in monopolistic competition. The firm earns total revenue of
A) $120. B) $40. C) $160. D) $0.
In a public goods context, it is difficult to measure its impact on real income because
A. public goods are generally free to the public. B. they make up a small percentage of total GDP. C. people do not reveal how they value public goods. D. inflation decreases the value of the good.
If there are only two goods and these are consumed in fixed proportions, the price elasticities of demand for these two goods will sum to
a. 0.0 b. -0.5 c. -1.0 d. a number between 0 and -1.