A competitive firm would benefit from charging a price below the market price because the firm would achieve (i) higher average revenue. (ii) higher profits. (iii) lower total costs
a. (i) only
b. (ii) and (iii) only
c. (i), (ii), and (iii)
d. None of the above is correct.
d
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On Tuesday, a movie theater discounts tickets to all shows. What would we expect to see happen to popcorn on Tuesdays?
A. Increased demand for popcorn B. Decreased supply of popcorn C. Decreased demand for popcorn D. Increased supply of popcorn
Using the table provided above, what can be concluded about the Gini ratio and what does this mean for income equality?
A) The Gini ratio is increasing which means there is greater income inequality. B) The Gini ratio is increasing which means there is greater income equality. C) The Gini ratio is decreasing which means there is greater income equality. D) The Gini ratio is decreasing which means there is greater income inequality.
One group of people uses New York City subways only during rush hour to travel to and from work. Another group uses them only in midday for leisure activity. If New York City wants to increase transit fares with the smallest possible reduction in revenue, for which group should it increase the fare?
a. The rush-hour group because its demand for subway service is more elastic than that of the midday group. b. The rush-hour group because its demand for subway service is less elastic than that of the midday group. c. The midday group because its demand for subway service is more elastic than that of the rush-hour group. d. The midday group because its demand for subway service is less elastic than that of the rush-hour group. e. It doesn't matter because both groups have the same elasticity of demand.
All of the following are true except
A. gross investment minus depreciation equals net investment. B. Karl Marx said that capital is produced by the capitalist. C. inventory investment is less stable than investment in plant and equipment. D. capital can be acquired by borrowing, working more or consuming less.