Based on the graphs showing price discrimination in movie ticket prices, the demand curve for the matinee ______ the demand curve for the evening show.
a. has a steeper slope than
b. is less elastic than
c. is more elastic than
d. is higher than
c. is more elastic than
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Refer to the above figure. The government has just engaged in expansionary fiscal policy shifting the aggregate demand curve from AD1 to AD2. Interest rates have started to rise. Which of the following statements is TRUE in the short run?
A) Real GDP will be $14 trillion since the effect of government spending is not influenced by interest rates. B) Real GDP will end up somewhere between $11 and $14 trillion as businesses and consumers reduce their spending in response to the increase in interest rates. C) Real GDP will go beyond $14 trillion as businesses and consumers react to the increase in interest rates. D) Real GDP will fall back to $11 trillion since the effect that increased government spending has on real GDP is short lived.
The supply curve for a competitive firm is
A) its entire MC curve. B) the upward-sloping portion of its MC curve. C) its MC curve above the minimum point of the AVC curve. D) its MC curve above the minimum point of the ATC curve. E) its MR curve.
In monopolistic competition there is allocative inefficiency because
A. Production is not at the minimum ATC. B. Price is greater than MC. C. Price is greater than the minimum ATC. D. Of excess capacity.
In 2011, these states saw challenges to the collective bargaining rights of their teachers.
A. Nevada and Texas B. Alabama and Florida C. New York and California D. Wisconsin and Indiana