The above figure shows a graph of the market for pizzas in a large town. If the price falls from $10 to $7 per pizza, the quantity of pizzas demanded will

When discussing the CPI, the term "commodity substitution bias" refers to changes in

A) prices that lead business to change the items they buy. B) quantities that lead households to change the items they buy. C) prices that lead households to change the items they buy. D) income that lead households to change the items they buy. E) stores so that consumers switch from one store to another.

In order to be able to price discriminate and maximize profit, a monopolist must be able to do all of the following EXCEPT

A) identify and separate different buyer types. B) sell a product that cannot be resold. C) identify competitors. D) determine the output where marginal revenue equals marginal cost.