Which of the following is TRUE?
a. Discount retailers can defeat price discrimination by the manufacturers through arbitrage
b. Arbitrage is not an effective way for retailers to defeat price discrimination by manufacturers
c. Retailers are incapable of defeating upstream price discrimination once the manufacturer sets prices
d. "High End" retailers can defeat price discrimination by the manufacturers through arbitrage
a
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The solvency of Social Security can be extended if
A. the tax rate is reduced. B. the trust fund invests in government bonds. C. the retirement age is reduced. D. the cap on taxable earnings is raised.
The market structure in which each firm has a monopoly over the product it makes, but many other firms make similar products that compete for the same customers is called
The idea that people will not consciously make decisions that make them worse off is known as
A) rationality assumption.
B) the decision duality.
C) Adam Smith's doctrine.
D) incentive assumption.
Naturally occurring diamonds are an example of
A) land. B) labor. C) physical capital. D) human capital.