Consider the effects of inflation in an economy composed of only two people: Larry, a bean farmer, and Megan, a rice farmer. Larry and Megan both always consume equal amounts of rice and beans. In 2016 the price of beans was $1, and the price of rice was $4.Suppose that in 2017 the price of beans was $2 and the price of rice was $8.Inflation was. Indicate whether Larry and Megan were better off, worse off, or unaffected by the changes in prices. Better OffWorse OffUnaffectedLarry Megan Now suppose that in 2017 the price of beans was $2 and the price of rice was $4.80.In this case, inflation was. Indicate whether Larry and Megan were better off, worse off, or unaffected by the changes in prices. Better OffWorse OffUnaffectedLarry Megan Now suppose that in 2017, the price of beans was $2 and the price of rice was $1.60.In this case, inflation was. Indicate whether Larry and Megan were better off, worse off, or unaffected by the changes in prices. Better OffWorse OffUnaffectedLarry Megan What matters more to Larry and Megan?The relative price of rice and beansThe overall inflation rate

Which of the following best explains why a large company can undersell small retailers? a. large companies can offer workers lower wages because they provide more jobs. b. large companies can pay their employees less because they do unskilled jobs. c. large companies can negotiate better prices with wholesalers. d. large companies have fewer expenses associated with overhead.

For example, the upper right cell shows that if expresso advertises and beantown doesn't advertise, expresso will make a profit of $15 million, and beantown will make a profit of $2 million. assume this is a simultaneous game and that expresso and beantown are both profit-maximizing firms. if expresso decides to advertise, it will earn a profit of $ million if beantown advertises and a profit of $ million if beantown does not advertise. if expresso decides not to advertise, it will earn a profit of $ million if beantown advertises and a profit of $ million if beantown does not advertise. if beantown advertises, expresso makes a higher profit if it chooses . if beantown doesn't advertise, expresso makes a higher profit if it chooses . suppose that both firms start off not advertising. if the firms act independently, what strategies will they end up choosing? expresso will choose to advertise and beantown will choose not to advertise. expresso will choose not to advertise and beantown will choose to advertise. both firms will choose to advertise. both firms will choose not to advertise.

A76-year old female with degenerative joint disease made an appointment with an orthopedic surgeon. the patient stated she has had severe pain in her right knee for six months. she has tried physical therapy and steroid injections but has not had any relief. the surgeon has agreed to schedule a right total knee arthroplasty (knee replacement).