Refer to the figure above. In comparison to the bundles on IC1, the bundles on IC3:
A) give the same level of utility and are affordable.
B) give the same level of utility but are not affordable.
C) give a higher level of utility and are affordable.
D) give a higher level of utility but are not affordable.
D
Economics
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If a British automobile sells for £20,000 and the British pound is worth $1.50, then the dollar price of the automobile is
A) $1.60. B) $12,500. C) $20,000. D) $30,000.
Economics
The apparent stickiness of the price of goods sold by oligopolists can be explained by the
a. contestable markets model. b. sales maximization model. c. kinked demand curve model. d. entry deterrence model.
Economics