Which of the following is NOT an example of the hurdle method of price discrimination?
A. An early-bird discount for people who order dinner before 5pm.
B. A mail-in rebate on a printer.
C. A lower price on strawberries when they are in season.
D. A coupon for $10 off any purchase of $50 or higher.
Answer: C
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An interest rate ceiling is likely to cause
a. inflation b. optimal allocation of investment c. increased opportunities for poor people to get loans d. higher savings e. all of the above
The total of individual payoffs in the grand coalition must be less than the value the coalition earns
Indicate whether the statement is true or false
As the ________ becomes larger, the distance between the line of absolute equality and the ________ becomes greater.
A. Gini coefficient; Lorenz curve B. Gini coefficient; production possibilities curve C. Income distribution size; Lorenz curve D. Lorenz curve; Gini curve
Refer to Scenario 19.4 below to answer the question(s) that follow. SCENARIO 19.4: Suppose demand for widgets is given by the equation P = 10 - 0.25Q. Originally, the price of the good is $5 per unit. When a tax of $1 per unit is imposed, the price of the good rises to $6 per unit.Refer to Scenario 19.4. Prior to the imposition of the tax consumers purchased ________ widgets and after the tax was imposed they purchased ________ widgets.
A. 40; 32 B. 10; 8 C. 16; 20 D. 20; 16