If the market price of a DVD is $15 and a consumer was willing to pay $20 for it, that consumers surplus on the DVD is $5.
Answer the following statement true (T) or false (F)
True
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Starting from a situation where country A which exports good S and imports good T has a larger trade triangle than country B, explain how the process of reciprocal demand leads to international trade equilibrium
What will be an ideal response?
Plurality voting ________ the ideal voting-system criteria.
A. fails one of B. meets all C. fails all of D. fails two of
If a person is going to borrow $30,000 for a car and pay it off in monthly payments of $713.70 for 5 years, the internal rate of return is
A. 15%. B. 10%. C. 5%. D. 0%.
Figure 15.2 depicts a one-mile stretch of beach with 100 swimmers distributed evenly along the beach. There are two ice cream vendors - 1 and 2 - on the beach selling an identical product. Assume that each swimmer buys only one ice cream cone and that they prefer to buy ice cream from the nearer vendor. If vendor 1 is at A while vendor 2 is at C, vendor 1 has an incentive to move:
A. to vendor 2's location. B. to the right of vendor 2's location. C. to the left of its current location. D. None of these