The major problem with paired-choice majority voting is that the outcome:
A. Is constant
B. Is subject to bribery and abuse
C. May depend on the order of the voting
D. Results in clear preferences among the choices
C. May depend on the order of the voting
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The key disadvantage of the kinked-demand model is that it:
A) explains why firms may collude, but it does not explain how they interact. B) does not explain why prices may be rigid in an oligopoly. C) requires the assumptions of perfect competition. D) only holds under price leadership.
Which of the following would be included in the GDP Price Index but not in the Consumer Price Index?
a. The price of a Chrysler automobile b. The price of a fighter aircraft c. The price of a used computer d. The price of a tube of toothpaste e. The price of a bottle of shampoo
Straker Industries estimated its short-run costs using a U-shaped average variable cost function of the formAVC = a + bQ + cQ2and obtained the following results. Total fixed cost (TFC) at Straker Industries is $1,000. 
If Straker Industries produces 12 units of output, what is estimated average variable cost (AVC)?
A. $32.40 B. $38.60 C. $28.04 D. $33.33
Based on the following table, what is average fixed cost when 150 units of output are produced?
A. $16.50 B. $9 C. $11 D. $2 E. none of the above