Suppose the short-run supply curve is a straight line of slope +1 that intersects the origin. The long-run supply curve will be

Suppose a country is producing $20 million of real GDP. If the economy grows at 10 percent per year, approximately how many years will to take for real GDP to grow to $80 million?

A) 14 B) 7 C) 4 D) 30

Consumers who put a high value on a service

A) are better off with perfect price discrimination. B) are better off under a single-price monopoly. C) are indifferent between perfect price discrimination and a single-price monopoly. D) incur deadweight loss under either single-price monopoly or perfect price discrimination.