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Author Archives: Anonymous

Truman likes baseball more than football, football more than…

Truman likes baseball more than football, football more than basketball, and basketball more than baseball. Which assumption about consumer preferences does this violate?

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David paid $75 for jeans but was willing to pay $100. What i…

David paid $75 for jeans but was willing to pay $100. What is David’s consumer surplus?

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The curve that connects a consumer’s optimal bundles at each…

The curve that connects a consumer’s optimal bundles at each income level is identified as _______.      

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A visual representation of the production costs of a firm an…

A visual representation of the production costs of a firm and its output is shown through the _______.      

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At a price floor of $750, there is an excess supply of _____…

At a price floor of $750, there is an excess supply of _____ tons of peanuts.    

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Which of the following would cause the demand curve for a go…

Which of the following would cause the demand curve for a good to shift to the right?      

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In a perfectly competitive market, a firm can _____.

In a perfectly competitive market, a firm can _____.

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To assess how responsive quantity demanded is to changes in…

To assess how responsive quantity demanded is to changes in the price of your product, you should do the following: examine the ratio of the percentage change in _____ to the percentage change in _____ that brings about the change in _____.

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A firm is assumed to maximize _______ in the view of an econ…

A firm is assumed to maximize _______ in the view of an economist.

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L’Assassinat du Duc de Guise (1908) is significant because i…

L’Assassinat du Duc de Guise (1908) is significant because it:

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