You just won the lottery. You have a choice of three different prize options. Option #1: receive $1,200 immediately Option #2: receive $1,500 a year from now Option #3: receive $5,000 five years from now. If the interest rate is 10% the ranking of the options, from the lowest present value to the highest is

Sensible buyers or sellers will want to continue acquiring information

A) as long as the additional information extends their choices. B) as long as the anticipated additional benefit exceeds the additional cost of doing so. C) as long as they can be assured of acquiring correct information. D) indefinitely, because more information is better than less.

If the administration raises tuition on our campus in order to increase revenue, it will

a. not be successful if the demand curve slopes downward b. be successful if demand is elastic c. be successful if demand is inelastic d. be successful if supply is elastic e. be successful if supply is inelastic