If I get 10 units of pleasure from my first ice cream cone and 2 less units than before from each succeeding cone, I will buy ________ cones and gain ________ units of consumer surplus if the price of a cone = to 5 units of pleasure.
A. 6; 30
B. 4; 28
C. 2; 18
D. 3; 9
Answer: D
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In the prisoner's dilemma game, the sentence that each player receives depends on
a. neither strategy chosen b. only the strategy the player chooses c. only the strategy the other player chooses d. the strategy the player chooses and on the strategy the other player chooses e. None of the answers is correct.
It is efficient not to alter the amount of pollution produced by the market.
Answer the following statement true (T) or false (F)
Hyperinflation refers to an inflation rate which exceeds 5 percent per month
Indicate whether the statement is true or false
If the minimum wage is set above the market wage
A) unemployment will rise. B) the quantity of labor supplied will be below the quantity of labor demanded. C) highly-skilled workers will have a harder time finding jobs. D) All of the above are correct.