A price floor set below the equilibrium price will cause which of the following?

If OPEC increases its price of oil, and still the demand for oil decreases by a very small amount, we can conclude that the demand for oil is

A) relatively elastic. B) relatively inelastic. C) perfectly elastic. D) perfectly inelastic.

The following table shows the relationship between the speed of a computer's CPU and its benefits and costs. Assume that all other features of the computer are the same (that is, CPU speed is the only source of variation), and only the CPU speeds listed below are available for purchase.CPUGHzTotal BenefitMarginal BenefitTotal CostsMarginal Costs2.0$1,000 $900 2.5$1,400  &1003.0 $300$1,200 3.5$1,900 &1,500 4.0$2,000  &400Choosing a 3.5GHz computer would be irrational because:

A. it is impossible to tell the difference compared to a 3.0GHz computer. B. its marginal benefit is less than its marginal cost. C. its marginal benefit is equal to its marginal cost. D. its marginal benefit is greater than its marginal cost.