The air route from Dallas to Mexico City is served by more than one airline. The demand for tickets from American Airlines for that route is probably
A) inelastic but more elastic than the demand for all tickets for that route.
B) elastic and more elastic than the demand for all tickets for that route.
C) inelastic and less elastic than the demand for all tickets for that route.
D) elastic but less elastic than the demand for all tickets for that route.
B
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A monitoring problem most likely will occur when:
A. a company is employee-owned. B. employees' self-interest is the same as the firm's interest. C. employees' self-interest differs from the firm's interest. D. the owner makes all the decisions for the business.
Core inflation is defined as
A. inflation that takes health care and energy into account. B. inflation that does not take health care and energy into account. C. inflation that does not take energy and food into account. D. inflation that takes energy and food into account.
Which of the following is an example of spending on factors of production in the circular flow model?
A) Tuan purchases a cappuccino at the student union. B) Laurence rents a car to drive to a wedding in San Diego. C) Yvette pays $50 to join a softball league. D) The "Lucky Ducky" casino buys a new craps table for the casino floor.
If Ben values good X more than good Y and Catherine values good Y more than good X a firm can increase its profits by
A) charging the same price for both goods. B) bundling the goods. C) selling the goods in a competitive market. D) charging one price per good.