In reality, perfect price discrimination is
a. used by about 75 percent of all monopolies.
b. used by about 50 percent of all monopolies.
c. seldom used by monopolies because it leads to lower profits.
d. rarely possible.
d
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The text asserts that the allocation of resources among firms is efficient. What assumptions must hold for this to be true?
What will be an ideal response?
How does a government-sponsored good differ from a public good?
What will be an ideal response?
What programs will dramatically increase future deficits and debt if tax rates are not increased and spending in these programs is not reduced?
a. military and homeland security spending b. welfare and food stamp spending c. environmental restoration and transportation spending d. Social Security and Medicare spending
Which factor of production accounts for the highest percentage of the income that the production process generates in the US?
a. Capital b. Natural Resource c. Land d. Labor