What a buyer pays for a unit of a specific good or service is called:
a. debit.
b. MSRP.
c. cost.
d. price.
d. price.
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The price of ________ in terms of ________ is referred to as the real exchange rate
A) foreign goods; foreign services B) domestic goods; the domestic currency C) domestic goods; foreign goods D) domestic goods; domestic services
The Keynesian AD curve differs from the classical AD curve in that:
a. the classical AD curve can shift in response to non-monetary shocks. b. the Keynesian AD curve can shift in response to monetary shocks. c. the Keynesian AD curve can shift in response to non-monetary shocks. d. there is no difference, both are determined by the quantity theory. e. none of the above.
Offering an expensive engagement ring to your (future) bride is a
a. Screening mechanism b. Signaling mechanism c. Way to waste money d. None of the above
Table 24.1Monopoly Costs and RevenueQuantityPriceTotal Cost1$500$4002$450$6503$400$9504$350$1,3005$300$1,700In Table 24.1, using the profit maximization rule, a monopolist will charge a price of
A. $300. B. $400. C. $500. D. $350.