What is the effect on the equilibrium price and equilibrium quantity of theater tickets if the price of an orchestra ticket increases and the wage rate paid to actorsactors increases?? The equilibrium price of a theater ticket ______ and the equilibrium quantity? ______.
A. always falls ; increases
B. always falls; decreases
C. rises; increases, decreases, or remains the same
D. does not change; does not change
E. rises, falls, or remains the same; increases
Ans : C. rises; increases, decreases, or remains the same
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The U.S. Postal Service uses Ramsey pricing
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Which of the following statements is false?
a. Economists look at the factors that lead an individual to decide that a particular idea is in his or her best interest. b. Economists do not ask whether a particular decision is in the individual's best interest. c. Choices must be made because of scarcity. d. A particular choice is made by an individual because that choice provides the greatest satisfaction. e. None of these statements is false, they are all true.
If the dollar buys fewer bananas in Guatemala than in Honduras, then traders could make a profit by
a. buying bananas in Honduras and selling them in Guatemala, which would tend to raise the price of bananas in Honduras. b. buying bananas in Honduras and selling them in Guatemala, which would tend to raise the price of bananas in Guatemala. c. buying bananas in Guatemala and selling them in Honduras, which would tend to raise the price of bananas in Guatemala. d. buying bananas in Guatemala and selling them in Honduras, which would tend to raise the price of bananas in Honduras.
If both Ben and Catherine value good X more than good Y, a firm can increase profits by bundling the two products
Indicate whether the statement is true or false