When the marginal revenue curve cuts the horizontal axis,
A) demand is relatively elastic.
B) demand is relatively inelastic.
C) demand is perfectly elastic.
D) demand is unitary elastic.
D
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Which of the following shifts the supply curve for oranges?
A) disastrous weather that destroys about half of this year's orange crop B) a newly discovered increase in the nutritional value of oranges C) an increase in the price of bananas, a substitute in consumption for oranges D) an increase in income for all orange consumers
Suppose there's an 80% chance of a stock rising by 20% and a 20% chance of it falling by 40%. Which type of investor would prefer an investment with a guaranteed return of 5%?
A) risk loving investor B) risk neutral investor C) risk averse investor D) risk is not relevant in this example
See Scenario 4.1. Holding Daniel's income and Pd constant at $240 and $3 respectively, what is Daniel's demand curve for cake?
A) Qc = 240 - Pc B) Qc = 240/Pc C) Qc = 120/Pc D) Qc = 240/(3 + Pc) E) none of the above
In a typical prisoner's dilemma with two prisoners, the prisoners will serve the least number of years in prison if both of them confess their crimes
a. True b. False Indicate whether the statement is true or false