At a Chicago Bulls game 20,000 tickets were sold at $30 apiece. The game was sold out and some people did not get tickets. This suggests that the selling price:
A. was above equilibrium.
B. was below equilibrium.
C. was at equilibrium.
D. could not have been any higher.
Answer: B
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Which of the following does NOT appear in the current account part of the balance of payments?
A) a loan of $1 million from Bank of America to Brazil B) foreign aid to El Salvador C) an Air France ticket bought by an American D) income earned by General Motors from its plants abroad
Samantha values the utility of her first cup of coffee at $1.00; a second cup, $0.75; and a third cup, $0.50 . If Samantha drinks three cups of coffee for breakfast, her marginal utility is equal to
a. $0.50, the value of her last cup of coffee. b. $1.00, the value of her first cup of coffee. c. $2.25. d. $1.50.
Suppose there are 1000 identical wheat farmers. For each, TC = 10 + q2 Derive the market supply curve
What will be an ideal response?
Attractive industries have all the following attributes, except
a. High supplier power b. Low buyer power c. High entry barriers d. Low rivalry