If consumers expect that the price of pretzels will decrease next week, what would happen today?
A) Demand today for pretzels would decrease.
B) Demand today for pretzels would increase.
C) Demand today for pretzels would be unaffected.
D) Supply today of pretzels would decrease.
A
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To find the market demand curve for in-line skates, we must
A) add the quantities demanded at every price and every income by every buyer of in-line skates. B) add the quantities demanded at prices that all buyers can afford to pay. C) take account of the skate buying plans of all actual and potential buyers in all possible situations. D) sum horizontally the individual demand curves of all the buyers. E) None of the above answers is correct because we need also to take account of the supply of in-line skates.
A large oligopolistic firm that unilaterally makes changes in price which competitors tend to follow is known as a: a. price leader
b. price maker. c. dominant strategy firm. d. cartel leader.
Refer to the following figure.
Geri likes avocados; each additional avocado she consumes adds as much to her total utility as did the previous one. Which of the four graphs best represents Geri's marginal utility curve for avocados?
A. A B. B C. C D. D
The longer the time frame involved, the more likely it is that the demand will be relatively
A) elastic. B) inelastic. C) steep. D) flat.