For anything to be considered money it must be
A) either a commodity or a token, as long as it is generally accepted as a means of payment.
B) a valuable commodity, such as gold.
C) used in barter transactions.
D) a mystical token, such as whale teeth.
E) a token, such as a green piece of paper.
A
Economics
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At the current price of a good, Al's consumer surplus equals 15 and Ben's consumer surplus equals 15. By using two-part pricing, a monopolist could increase his profit by
A) 8. B) 16. C) 15. D) 30.
Economics
Which of the following would NOT be considered a consumption good?
A) a new sweater B) tools used to cut metal on an auto production line C) a jar of Skippy peanut butter D) a bottle of Scotch whiskey
Economics