Felix always consumes exactly four cookies with a glass of milk. Felix's indifference curves for cookies and milk would be:
A. linear.
B. L-shaped.
C. convex.
D. positively-sloped.
B. L-shaped.
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"As the economy moves upward along its aggregate supply curve, the economy also moves upward along its short-run Phillips curve." Is the previous statement correct or incorrect? Briefly explain your answer
What will be an ideal response?
Until the early 1980s, The Walt Disney Company used a pricing strategy in which visitors to its theme parks paid a low admission fee and also paid for rides. This pricing strategy is an example of
A) a two-part tariff. B) perfect price discrimination. C) cost-plus pricing. D) monopoly pricing.
Which antitrust act prohibits price fixing and other conspiracies and combinations that restrain trade and attempts to monopolize?
a. Sherman Antitrust Act of 1890. b. Clayton Act of 1914. c. Federal Trade Commission Act of 1914. d. Robinson-Patman Act of 1936. e. Cell-Kefauver Act of 1950.
Which of the following exempliflies altruism?
a. A teacher conducting night classes for working professionals. b. A lawyer defending a juvenile client who is accused of murder. c. A person on his way to work stopping to help accident victims on the road. d. Government imposing a high sales tax on liquor.