Suppose the market demand curve shifts rightward and the market price remains the same. What happens to
Question:
Suppose the market demand curve shifts rightward and the market price remains the same. What happens to consumer surplus in this market?
A. | Does not change | |
B. | We do not have enough information to answer this question | |
C. | Increases | |
D. | Decreases |
If marginal costs are less than average costs, we know that
A. | Average costs are declining | |
B. | Average costs are negative | |
C. | Average costs are increasing | |
D. | Average costs are sunk |
The less-than-load (LTL) freight business in the US has constant or flat average costs across all quantity levels. What does this imply about the scale economies in this industry?
A. | Business has economies of scale | |
B. | Business has neither economies of scale or diseconomies of scale | |
C. | Business has diseconomies of scale | |
D. | Business has economies of scope but not economies of scale |
Suppose you invest $100 today in bonds that have an annual discount rate equal to -2% per year. At this time next year, your investment will be worth:
A. | $98 | |
B. | $100 | |
C. | $102 | |
D. | $104 |
Microeconomics An Intuitive Approach with Calculus
ISBN: 978-0538453257
1st edition
Authors: Thomas Nechyba