In the figure above, Nike maximizes its profit if it charges ________ per pair of shoes
A) $75
B) $60
C) $72
D) $42
A
Economics
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What will be an ideal response?
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If taxes are increased, the AD curve
A) is not affected because a change in taxes is a nominal change not real change. B) shifts rightward and aggregate demand decreases. C) shifts leftward and aggregate demand decreases. D) does not shift but there is a movement down along the curve.
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Refer to the above figure. The firm's short-run shutdown price is
A) at $1. B) at $2. C) at $4. D) above $4.
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A traffic light at an intersection is
a. rival and excludable in consumption. b. not rival but excludable in consumption. c. rival but not excludable in consumption. d. not rival and not excludable in consumption.
Economics