If Big Lumber Company offers customers a lower price per unit of lumber if the customer purchases more than 100 pieces of lumber, this is an example of ________.
A) zero-degree price discrimination
B) first-degree price discrimination
C) second-degree price discrimination
D) third-degree price discrimination
C) second-degree price discrimination
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Bid-rigging is more likely when
a. auctions are for larger amounts b. auctions are infrequent c. auctions are oral d. auctions are sealed-bid
The demand curve for a factor is that part of the MRP where marginal product is
a. rising. b. falling. c. positive. d. negative.
A demand curve is derived from
A) the production possibilities curve. B) consumer's income. C) a demand schedule. D) an equilibrium.
The inclusion of external benefits in the decision making process determining equilibrium price and quantity leads to
A. higher priced items and increased quantity. B. lower priced items and a decline in quantity. C. lower priced items and increased quantity. D. higher priced items and a decline in quantity.