Answer the following statements true (T) or false (F)
1) It is not possible for a single firm to combine different types of nonlinear pricing.
2) In order to practice any of the advanced pricing techniques, a firm must have some market power.
3) If a firm offers a quantity discount, this is an example of an all-or-nothing offer.
4) If Healthy Bars labels its snack bars "not for resale", Healthy Bars is attempting to prevent arbitrage.
5) If a firm faces a high demand during the summer months and a low demand during the winter months, peak-load pricing can increase the firm's profits compared to charging the same price in the summer and winter months.
1) FALSE
2) TRUE
3) FALSE
4) TRUE
5) TRUE
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Which type of unemployment is a permanent and healthy phenomenon in a dynamic economy?
A) cyclical B) avoidable C) structural D) frictional E) unavoidable
An advocate of supply-side fiscal policy would advocate which of the following?
a. Subsidies to produce technological advances. b. Reduction in regulation. c. Reduction in resource prices. d. Reduction in taxes. e. All of these.
We can predict the outcome of a two-player game as long as
a. each player follows a strategy that negates the other player's strategy b. at least one player has a bilateral strategy c. neither player has a subsistence strategy d. neither player has a dominant strategy e. at least one of the players has a dominant strategy
Government failure means that government intervention fails to move us closer to our economic goals.
Answer the following statement true (T) or false (F)