The reservation value of a buyer reflects her ________
A) willingness to pay for a good or service
B) trade-off between buying various goods and services
C) total utility from a good or service
D) total income
A
Economics
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If the U.S. dollar appreciates from 1.25 Swiss franc per U.S. dollar to 1.5 francs per dollar, then the franc depreciates from ________ U.S. dollars per franc to ________ U.S. dollars per franc
A) 0.80; 0.67 B) 0.67; 0.80 C) 0.50; 0.33 D) 0.33; 0.50
Economics
To improve delivery, Joe's Pizza Emporium made a change that involved taking better account of traffic to avoid delays in delivering pizzas. This is an example of
A) positive technological change. B) increasing marginal returns. C) a reduction in fixed costs. D) diseconomies of scale.
Economics