Pricing policy can serve as a barrier to entry
Indicate whether the statement is true or false
True
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A tax on a product will yield little revenue if
a. supply is elastic b. supply is inelastic c. demand is inelastic d. demand is elastic e. no tax in a developing country will yield significant revenue
In the "Prisoners' Dilemma" game: a. prisoners are able to collude with one another
b. prisoners are unable to communicate with one another. c. the Nash equilibrium results in prisoners serving the smallest combined prison term. d. the Nash equilibrium results in one prisoner confessing, while the other does not.
An efficient tax for a product with detrimental externalities would equal
A. marginal social cost minus marginal external cost. B. marginal private cost plus marginal external cost. C. marginal external cost minus marginal private cost. D. marginal social cost minus marginal private cost.
Refer to the accompanying table. To increase output from 33 to 66 units requires ________ extra employee(s) per day; to increase output from 66 to 99 units requires ________ extra employee(s) per day.Output Per DayNumber of Employees Per Day00331662994132716511
A. 1; 2 B. 2; 4 C. 1; 1 D. 2; 1