Price Theory is so FUN!
He helped us a great deal with the last test. Today this is what he gave:
1)Kinked demand curve is based on?
a) Kinky Ideas
b)Crooked ruler when drawing curve
2)If apple priced its ipod high when initially launched and then later lowered prices, what do you call this?
a)Macintosh pricing method
b)Steve methodology
c)Kill Sim method
d)Anti Creative pricing
Short answer question
There is a family that produces actors like Jackie Chan. The market has an increase in demand for Jackie Chan's movie and thus cause Jackie Chan's salary to increase. What it she thape of the long run supply of Jackie Chan?