Consider a good whose consumption takes place publicly. Your decision to buy that good depends
A) both on the characteristics of the product and on how many other people are buying the good.
B) only on the price of the good.
C) only on how many other people buy the good.
D) only on the characteristics of the good.
A
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In the above figure, the initial supply of loanable funds curve is SLF0 and the initial demand for loanable funds curve is DLF0. An increase in the expected profit would
A) only shift the supply of loanable funds curve rightward to a curve such as SLF1. B) shift the supply of loanable funds curve rightward to a curve such as SLF1, and shift the demand for loanable funds curve rightward to a curve such as DLF1. C) only shift the demand for loanable funds curve rightward to a curve such as DLF1. D) have no effect on either the demand for loanable funds curve or the supply of loanable funds curve.
Liam is willing to cut lawns for a minimum of $200 a week. He is, however, paid $250 for the same service by a lawn maintenance company. This is an example of
a. consumer surplus. b. employment discrimination. c. producer surplus. d. the derivation of accounting profit.