Refer to the information provided in Figure 3.14 below to answer the question(s) that follow.
Figure 3.14Refer to Figure 3.14. At a quantity demanded of 750, there is an excess
A. demand of 300 sunglasses if the price is $60.
B. supply of 300 sunglasses if the price is $30.
C. demand of 450 sunglasses if the price is $60.
D. demand of 450 sunglasses if the price is $30.
Answer: D
Economics
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Refer to Figure 10-8. If the price of biscotti is $1.50 and the price of a cappuccino is $3.00, what is the slope of the budget constraint?
A) -(3.00 - 1.50 )/(3.00 + 1.50 ) = -1/3 B) -2 C) -1/2 D) The slope cannot be determined without the value of income.
Economics
What three conditions must hold for a firm to successfully price discriminate?
What will be an ideal response?
Economics