A famous opera star made $2 million per year. He said he would rather sell insurance if he couldn't make more than $200,000 per year. If he is telling the truth, how much is he being paid in economic rent?
A) $2.0 million
B) $200,000
C) $1.8 million
D) $2.2 million
Answer: C
Economics
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a. nothing happens. b. the IS curve shifts to the left and the AD curve shifts to the right. c. both IS and AD shift to the right. d. both IS and AD shift to the left. e. the IS curve shifts to the right, the AD curve shifts to the left.
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As long as as a monopolist is able to control the resale of its product, then it can successfully practice price discrimination
a. True b. False Indicate whether the statement is true or false
Economics