Which of the following is likely to yield the greatest consumer surplus?
a. a nugget of gold found in a rushing creek in Alaska
b. a gold necklace on sale at 20 percent off original price
c. a gold necklace on sale at 40 percent off original price
d. a dip in the neighbor's pool, at no charge
e. a gulp of water from an oasis in the Sahara desert after three days of thirst
E
Economics
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When a monopoly decreases its output and sales, the output effect works to _____ total revenue, and the price effect works to _____ total revenue
Fill in the blank(s) with the appropriate word(s).
Economics
A decrease in the real exchange rate will tend to ________ exports and to ________ imports.
A. increase; decrease B. decrease; decrease C. decrease; increase D. increase; increase
Economics