As the price is raised along a straight-line demand curve, the demand curve becomes more elastic
a. True
b. False
Indicate whether the statement is true or false
True
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An economic profit is
A) an opportunity cost of the company. B) a cost that is always measured by the accountant. C) the amount of profit an accountant calculates for a company. D) not the same as the company's normal profit.
If the U.S. government increased its holdings of British pounds, definitely
A) the capital and financial account would increase. B) the capital and financial account would decrease. C) there would be an increase in U.S. official reserves. D) there would be a decrease in U.S. official reserves.
If the golfers at Green Golf all have identical demands and Green Golf practices two-part pricing, the profit-maximizing access fee is ________ the consumer surplus.
A) greater than B) equal to C) less than D) exactly double
The Red Jacket Mountain View Inn in New Hampshire charges $159 per room in the winter ski season and $114 during the summer months. The number of rooms and operating costs are constant year round. These prices indicate
a. rightward shifts in the demand curve in the summer. b. a rightward shift in demand in the winter. c. leftward shifts in the supply curve in the summer. d. a leftward shift in demand in the winter.