Those hurt by inflation include:
a. labor unions with COLA clauses.
b. borrowers.
c. savers.
d. owners of real estate.
e. owners of precious metals, antiques, and works of art.
c
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A defendant believes there is an 80 percent chance that the plaintiff will win $1,000,000 and a 20 percent chance that the plaintiff will lose and be awarded nothing (zero). The plaintiff believes that there is a 90 percent chance that they will win $1,000,000 and a 10 percent chance that they will be awarded nothing (zero). The plaintiff's litigation cost is $500,000 and the defendant's
litigation cost is $400,000. The defendant would be willing to pay any amount up to ________ to settle. $1,000,000 B) $1,200,000 C) $900,000 D) $800,000
Which of the following is an example of a product sold by an undifferentiated oligopoly?
a. steel b. automobile c. a new drug d. breakfast cereal
Dane consumes both hamburgers and pizza. Suppose the formula for his indifference curves is H = U - 2 P, where H stands for the number of hamburgers, P stands for the number of pizzas, and U represents utility. Which of the following statements is true?
A. Dane prefers a consumption bundle with 5 hamburgers and 4 pizzas to a consumption bundle with 10 hamburgers and 2 pizzas. B. Dane prefers a consumption bundle with 8 hamburgers and 3 pizza to a consumption bundle with 14 hamburgers and 1 pizzas. C. Dane is indifferent between a consumption bundle with 10 hamburgers and 2 pizzas and a consumption bundle with 8 hamburgers and 3 pizzas. D. Dane is indifferent between a consumption bundle with 5 hamburgers and 4 pizzas and a consumption bundle with 8 hamburgers and 3 pizzas.
A firm carries out price discrimination when it charges
a. a lower price to consumers whose demand is more elastic. b. the same price to all of their consumers. c. a higher price to consumers whose demand is more elastic. d. a higher price when their marginal cost is lower.