Which of the following would not be studied in microeconomics?
A. How individual firms decide how much to produce.
B. Whether the federal budget should be balanced.
C. How an early freeze in California will affect the price of fruit.
D. Whether to study or watch TV tonight.
Answer: B
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If the MC of polluting increased, then what would happen to the optimal level of pollution?
A. Increase B. Decrease C. Unsure D. Stay the same
When a company introduces new audio products, it often initially sets the price high and lowers the price about a year later. This is an example of
A) a two-part tariff. B) second-degree price discrimination. C) intertemporal price discrimination. D) first-degree price discrimination.
In the above figure, along the section of the demand curve between point a and point b, demand is
A) elastic. B) inelastic. C) unit elastic. D) unit inelastic.
Refer to the given data. The domestic opportunity cost of 1 fish in Landia is:
Answer the question on the basis of the following production possibilities data for Landia and Scandia:
A. 10 chips.
B. 2 chips.
C. 4 chips.
D. 5 chips.