Kristen has an income of $450 per year to spend on music CDs and movies on DVDs. The price of a CD is $15. The indifference curves in the figure above (I1, I2, and I3 ) reflect Kristen's preferences. If the price of a DVD is $22
50, then Kristen buys ________ DVDs; if the price of a DVD is $18.00, then Kristen buys ________ DVDs. A) 12; 14
B) 5; 10
C) 10; 15
D) 7.5; 12.5
C
Economics
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The U.S. economy is experiencing falling output, falling employment, falling incomes and rising unemployment. These conditions best describe a business cycle ________
A) peak B) expansion C) recession D) trend E) trough
Economics
The above figure shows the reaction functions for two pizza shops in a small isolated down. The Stackelberg leader will produce
A) 25 pizzas. B) 50 pizzas. C) 66.7 pizzas. D) 100 pizzas.
Economics