The following table shows the relationship between the speed of a computer's CPU and its benefits and costs. Assume that all other features of the computer are the same (that is, CPU speed is the only source of variation), and only the CPU speeds listed below are available for purchase.CPUGHzTotal BenefitMarginal BenefitTotal CostsMarginal Costs2.0$1,000 $900 2.5$1,400  &1003.0 $300$1,200 3.5$1,900 &1,500 4.0$2,000  &400The total benefit of a 3.0GHz computer is:

A. $900.
B. $300.
C. $1,700.
D. $1,650.

Answer: C

Economics

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Many used car owners and used car dealers describe their different cars for sale in the local newspapers and list their asking price. Many people shopping for a used car consider the different choices listed in the paper. The market for used cars could be described as

A) relatively competitive. B) perfectly competitive. C) non-competitive. D) having high transaction costs.

Economics

Mechanisms that manufacturers can use to deal with misaligned retailer incentives include

a. setting a minimum retail price b. providing an exclusive contract to a single retailed in a market c. compensating retailers' sales staff for demonstrating, as well as selling, the product d. All of the above

Economics