We can derive market demand for pears by
a. adding up all the prices people are willing to pay for pears
b. multiplying the number of people times the price of pears
c. adding up the number of pears that producers are willing to sell
d. multiplying the number of pears by the price of pears
e. adding up all the individual demands for pears
E
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A capital gain occurs when the
A) coupon rate increases. B) current yield increases. C) price of an asset increases. D) yield to maturity increases.
Which of the following distinguishes a "straight-line" production possibilities curve from one that is "bowed out"?
a. A straight-line production possibilities curve exhibits increasing opportunity costs, whereas a bowed production possibilities curve does not. b. A straight-line production possibilities curve exhibits decreasing opportunity costs, whereas a bowed production possibilities curve does not. c. A straight-line production possibilities curve exhibits constant opportunity costs, whereas a bowed production possibilities curve does not. d. A straight-line production possibilities curve is upward sloping, whereas a bowed production possibilities curve is not.
When the price of a good is $5, the quantity demanded is 120 units per month; when the price is $7, the quantity demanded is 100 units per month. Using the midpoint method, the price elasticity of demand is about
a. 0.55. b. 1.83. c. 2. d. 10.
Colin's demand for golf at his local club each season is P = 50 - 2Q. If the golf course charges $26 dollars per round of golf, how much could it charge Colin in a membership fee before he would not play there?
A. $288 B. $144 C. $1,250 D. $312