Based on the graphs showing price discrimination in movie ticket prices, regardless of which price is charged, the evening movie will generate______ than the matinee.
a. more total revenue than
b. the same total revenue as
c. less total revenue than
d. more variable revenue than
a. more total revenue than
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Given a required reserve ratio of 20 percent, a commercial bank that has received a new deposit of $100 can make additional loans of
A) $400. B) $0. C) $20. D) $80.
You have found data that indicates that the income elasticity of demand for generic (unbranded) shampoo is -0.7. You should conclude that generic shampoo:
A. is below its equilibrium price. B. is a normal good. C. is an inferior good. D. has inelastic demand.
If labor costs $10 per unit and machines rent for $20 apiece, the slope of an isocost line might imply a substitution of:
A. one unit of labor for two units of machinery. B. one unit of machinery for two units of labor. C. two units of machinery for three units of labor. D. one unit of labor for one unit of machinery.
Countries that engage in trade will tend to specialize in goods in which they have a(n) _______ and will _______ those goods.
A) comparative advantage; import B) absolute advantage; export C) comparative advantage; export D) economic profit; import