Price discrimination can be practiced only if products can be resold
a. True
b. False
Indicate whether the statement is true or false
False
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The concept of externalities means that subsidizing education can be justified on the grounds that as a student becomes better educated, the student will
A) earn a higher income. B) enhance the lives of people around the student. C) make contributions to the student's alma mater. D) none of the above
Investment in human capital is very similar to investing in physical capital. True or false? Explain your answer
What will be an ideal response?
In the efficiency wage model with the efficiency wage above the market-clearing wage, when employment is at its full-employment level
A) labor supply equals labor demand. B) there is an excess supply of labor. C) there is an excess demand for labor. D) there could be either an excess demand for, or an excess supply of, labor.
If the price of a slice of pizza rises from $2.50 to $3, and quantity demanded falls from 10,000 slices to 7,400 slices, calculate the arc price elasticity
A) -1.92 B) -1.64 C) -4 D) -2