A monopoly ________
A. can choose its price and output and always has the option of price discriminating
B. is a price taker and by offering a range of discounts can price discri-minate
C. that produces a good that cannot be resold might choose to price dis-criminate
D. book store that offers a discount on Tuesdays is price discriminating
C The monopoly has the potential of price discriminating only when the good cannot be resold.
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In Spain, people are considered organ donors unless they explicitly indicate they do not want to be. In the United States, people are only considered organ donors if they explicitly indicate they wish to be. Behavioral economics would suggest that
A) everything else equal, the opt-in system of Spain would generate more organ donors. as a percentage of the adult population. B) everything else equal, the opt-in system of the United States would generate more organ donors as a percentage of the adult population. C) everything else equal, the opt-out system of Spain would generate more organ donors. as a percentage of the adult population. D) everything else equal, the opt-out system of the United States would generate more organ donors as a percentage of the adult population.
Sources of stress include all but which of the following:
a. Hurricanes, tornadoes, floods and other such natural events b. Angry family members and friends c. Clutter, mental and physical d. All of the above are potential sources of stress
The present value of a sum to be received in the future is greater
A) the greater the interest rate. B) the less the time period before receiving the sum. C) the greater the inflation rate. D) the greater the discount rate.
One way to allocate the scarce good created from an effective price ceiling is to:
A. give them to the friends and family of the producers. B. offer it on a first-come, first-served basis. C. ration a certain quantity per household. D. All of these are examples of allocating using non-price methods.