Answer the next question based on the following price and output data over a five-year period for an economy that produces only one good. Assume that year 2 is the base year. YearUnits of OutputPrice per Unit18$22103315441855206If year 2 is the base year, the Consumer Price Index for year 2 is

A. 50.
B. 67.
C. 150.
D. 100.

Answer: D

Economics

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Which would definitely not be an example of price discrimination?

A. A theater charges children less than adults for a movie B. Universities charge higher tuition for out-of-state residents C. A doctor charges for services according to the income of patients D. An electric power company charges less for electricity used during off-peak hours when production costs are lower

Economics

You won a free ticket to see the latest Star Trek movie this Friday night (which you can costlessly resell for its face value of $15). Your favorite band is also performing on Friday and is your only alternative activity. Friday is your last chance to see either the movie or the band. Tickets to see your favorite band cost $30, and on any given day, you would be willing to pay as much as $50 for a ticket. Based on this information, what is your opportunity cost of going to see the Star Trek movie on Friday?

A. $30 B. $35 C. $50 D. $0

Economics