The table above gives the demand schedule for water bottled by Wanda's Healthy Waters. If the marginal cost is a constant $4 a bottle, Wanda's will produce ________ a day and charge ________ a bottle
A) 8 bottles; $8
B) 4 bottles; $12
C) 1 bottle; $15
D) 6 bottles; $10
D
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A movie monopolist sells to students and adults. The demand function for students is QdS = 600 - 100P and the demand function for adults is QdA = 1,200 - 100P. The marginal cost is $2 per ticket. Suppose the movie theater cannot price discriminate. What is the monopolist's profit from both students and adults?
A. $2,500 B. $4,950 D. $50
The greater the risk of nonrepayment of a loan, other things being equal
A) the longer is the repayment term. B) the lower is the charged loan fees. C) the higher is the rate of interest. D) the smaller is the amount of collateral that is used.
In discussing discrimination and the wage differences that exist between men and women and between blacks and whites, it has been said that "the disease is political even if the symptom is economic." What does this mean?
a. Wage differences persist because the political system has failed to enact laws to equalize wages among all groups. b. Wage differences exist because of past discrimination on the part of political bodies such as city councils and school boards. c. Wage differences exist because of the differences in the political views of the different groups. d. Wage differences exist because the political system is biased against paying compensating differentials.
Suppose a boom in stock market prices helps make people feel wealthier. Using the model of aggregate demand and aggregate supply, identify the curves that are affected, and which way these curves would shift