Suppose the price of a movie falls from $9 to $7. Using the midpoint method, what is the percentage change in price?
A) 33 percent
B) -33 percent
C) 25 percent
D) -25 percent
E) -97 percent
D
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Often to secure a monopoly, one must erect barriers to entry to obtain a monopoly. What is this activity called in general and what does it entail specifically?
What will be an ideal response?
One advantage of a consumption tax is that there are fewer problems with inflation.
A. True B. False C. Uncertain
Workers who demand a wage that is higher than the equilibrium wage
A. Must belong to a union in order to secure a job. B. Will never benefit from joining a union. C. Will find it difficult to secure a job. D. Will easily secure a job.
The final consumer demand for chicken (normal good) in China will NOT shift if
A. consumer income decreases. B. more consumers are present in the market. C. the price of chicken decreases. D. either A or B occurs.