If you expect a general price increase of 5% this year and the price of the hamburgers you sell increases by 10%, you would conclude that the relative price of your good has
A) declined, and you would increase your output.
B) declined, and you would decrease your output.
C) increased, and you would increase your output.
D) increased, and you would decrease your output.
C
Economics
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The most a monopolist can sell at any given price is:
A. the amount he alone can supply the market with. B. the amount demanders are willing to buy at that price. C. constrained by the availability of inputs. D. less than if it were a perfectly competitive market.
Economics
Referring to the Production Possibilities Frontiers in Figure 1.10 A, B, C, and D, which depicts specialized growth in soda when there is increasing opportunity cost?
Figure 1.10
A. Fig. A B. Fig. B C. Fig. C D. Fig. D
Economics