The demand for seats in 10 a.m. classes at the university is higher than the demand for seats in 8 a.m. classes. The supply of seats is fixed. If the university can only charge a single price and wishes to maximize the total number of seats purchased during the day, it should set the price
A) at equilibrium for 8 a.m. classes.
B) at equilibrium for 10 a.m. classes.
C) midway between the two equilibria.
D) below either 8 a.m. or 10 a.m. equilibrium price.
A
Economics
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In terms of the price-real GDP diagram, a given expansion of the money supply will have a greater effect on prices the
A. steeper the aggregate supply curve. B. flatter the aggregate supply curve. C. higher the initial price level. D. lower the initial price level.
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According to the text, which of the following does the United States export?
A. Cars, cigarettes, corn, farm equipment, and services. B. Cars and cigarettes but not corn. C. Lumber but not farm equipment. D. Cars, cigarettes, corn, and farm equipment, but not education.
Economics