In the figure above, when the price of a disk is $B, total revenue is shown in the graph by area
A) BCF0.
B) AGF0.
C) FCDE.
D) ADE0.
A
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In constructing the Human Development Index, high income levels are given less than proportionate weight because
a. Items bought by rich people are luxuries, not necessities. b. United Nations bureaucrats are prejudiced against the rich. c. Dollars received by rich people may have a lower marginal utility than dollars received by poor people. d. Items bought by rich people create more pollution than those bought by the poor. e. All of the above are valid reasons.
Since crowd funding sites do not themselves invest in business start ups that raise funds on their sites, they don't reduce:
A) the principal-agent problem B) information costs C) transaction costs D) asymmetric information
Icy Treats is a large Italian ice dessert chain with franchises located throughout the United States. Icy Treats' advertising will likely focus on which of the following?
A) promoting Icy Treats locations in a specific state B) promoting a struggling Icy Treats location in Memphis, Tennessee C) promoting a successful Icy Treats location in Memphis, Tennessee D) promoting the enjoyment of eating Icy Treats' icees
If the U.S. population were split into quintiles based on income, with the lowest quintile representing the poorest 20 percent, then those who earned the median income for the United States would be in the:
A. second quintile. B. third quintile. C. fourth quintile. D. fifth quintile.