If the money prices of resources changes
A) the LAS curve shifts.
B) the SAS curve shifts.
C) the AD curve shifts.
D) the macroeconomic equilibrium is unaffected.
B
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Suppose that Acme Widget is currently selling for $100 per share and you own a call option to buy Acme Widget at $75 per share. The intrinsic value of your option is
A) $25. B) $75. C) $100. D) not possible to determine in the absence of information on values of the share price of Acme Widget between now and the expiration date of the call.
When neither player has a dominant strategy
A) game theory will not provide information. B) no Nash equilibrium exists. C) at least one Nash equilibrium exists. D) the game cannot be analyzed.
Which of the following is an example of price discrimination?
a. Lower admission prices to movies for senior citizens b. Lower prices for DVD players with fewer features than higher-priced players c. Higher prices for houses in California than in Nebraska d. A hair salon charging different prices for haircuts
People's tendency to prefer something that will yield immediate benefits over something whose benefits come later is called by behavioral economists as:
A. Myopia B. Mental accounting C. Anchoring D. Framing