In the figure above, for the 3,000th unit, the maximum price a consumer is willing to pay is
A) $5.
B) $10.
C) $15.
D) $0.
E) $25.
B
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Lee and Cody are playing a game in which Lee has the first move at A in the decision tree shown below. Once Lee has chosen either aggression or cooperation, Cody, who can see what Lee has chosen, must choose either aggression or cooperation at B or C. Both players know the payoffs at the end of each branch. 
Suppose Lee and Cody enter into a binding non-aggression agreement. As part of that agreement, they negotiate a fine that Cody would have to pay to Lee if Cody chooses aggression after Lee chooses cooperation. For the fine to be effective, it would have to be:
A. less than 15. B. equal to 40. C. equal to 25. D. at least 15.
Which of the following is most important if the living standards of people residing in a country are going to improve?
a. growth of population b. growth of per capita GDP c. growth of the money supply d. growth of government expenditures as a share of GDP
The history of the textile industry raises important questions for economic policy
a. True b. False Indicate whether the statement is true or false
If there is a technological advance that reduces the cost of producing x-ray machines, then we can say that the:
a. quantity demanded of x-ray machines will increase b. demand for x-ray machines will increase c. quantity supplied of x-ray machines will increase d. supply of x-ray machines will decrease e. none of the above