A movie monopolist sells to students and adults. The demand function for students is QdS = 600 - 100P and the demand function for adults is QdA = 1,200 - 100P. The marginal cost is $2 per ticket. What is the difference in the monopolist's profit when it is able to price discriminate and when it cannot?
A. $2,500
C. $0
D. $50
B. $450
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According to Figure 6.1, the period from 1996 to 2011 is particularly remarkable for the slow growth of ________
A) productivity B) labor input C) output D) capital input
If nonmarket work is a normal good, then an increase in income __________ the time allocated to __________
a. decreases; market work b. decreases; leisure c. increases; market work d. increases; leisure e. increases; nonmarket work
If consumers often purchase muffins to eat while they drink their lattés at local coffee shops, what would happen to the equilibrium price and quantity of lattés if the price of muffins rises?
a. Both the equilibrium price and quantity would increase. b. Both the equilibrium price and quantity would decrease. c. The equilibrium price would increase, and the equilibrium quantity would decrease. d. The equilibrium price would decrease, and the equilibrium quantity would increase.
Which of the following both shift aggregate-demand curve to the right?
a) a decrease in taxes and at a given price level consumers feel more wealthy b) a decrease in taxes and at a given price level consumers feel less wealthy c) an increase in taxes and at a given price level consumers feel less wealthy d) an increase in taxes and at a given price level consumers feel more wealthy