The central fact of economics is
A. Production.
B. Equilibrium.
C. Efficiency.
D. Scarcity.
D. Scarcity.
Economics
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Even with a tax, the price that consumers pay will be higher than what producers receive.
A. True B. False C. Uncertain
Economics
Suppose the marginal utilities for the first three cans of soda are 100, 80, and 60, respectively. The total utility received from consuming 2 cans is
A) 20. B) 80. C) 90. D) 180.
Economics
Which of the following goods is likely to have the most inelastic demand?
A. restaurant meals B. air travel C. movies D. cigarettes
Economics
Airlines price discriminate prominently by charging _______ more than _________.
Fill in the blank(s) with the appropriate word(s).
Economics