A person who makes decisions that are "merely good enough" is called a(n)
a. optimizer.
b. rational person.
c. satisficer.
d. maxi-minimizer.
c
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The elasticity of demand along the demand curve shown in the above figure is constant and equal to 1. Thus
A) area 0BCF equals area 0AGF. B) area 0BCF equals area FGDE. C) area 0BCF equals area 0ADE. D) area ABCG equals area 0AGF.
A monopolistic competitive firm is inefficient because the firm:
a. is not maximizing its profit. b. is producing at an output where average total cost is not minimum. c. earns positive economic profit in the long run. d. none of these.
Which of the following would appear on the liability side of a commercial bank balance sheet?
A. reserves B. checkable deposits C. loans D. securities
Refer to the figure below. If Laura and Chris are the only two consumers in this market, then the market demand for hamburger will be 9 pounds per week when the price of hamburger is: 
A. $2.50 per pound B. $1.50 per pound C. $1.00 per pound D. $2.00 per pound