A single-price monopoly can sell 2 units for $8.50 per unit. In order to sell 3 units, the price must be $8.00 per unit. The marginal revenue from selling the third unit is

Because human wants are insatiable and unlimited while available resources are limited, people are said to face the problem of

A) microeconomics. B) social interest versus self-interest. C) macroeconomics. D) why to produce. E) scarcity.

The price of video cassette recorders (VCRs) remains constant, but the market demand curve for VCRs shifts leftward as consumers shift to DVDs and other video technologies

What happens to the consumer surplus in this market as the demand curve shifts? A) Increases B) Decreases C) Remains the same D) We do not have enough information to answer this question.