The major factor contributing to lower prices for many farm products in 1998 and 1999 was:
A. A rise in the cost of farm equipment
B. A drop in the value of farmland prices
C. Greater demand for food and higher interest costs
D. Reduced export demand and strong crop production
D. Reduced export demand and strong crop production
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When we use the midpoint method to compute the price elasticity of demand we use
A) the original quantity and the average price. B) the original price and the average quantity. C) the average price and the average quantity. D) either the original or new price, and the average quantity. E) the average price and the original quantity.
A seller who succeeds in getting his various customers to pay different prices for the same good
A) is keeping his marginal revenue closer to his demand curve than it would otherwise be. B) is not using the marginal cost-marginal revenue formula to set prices. C) must be paying attention to overhead or sunk costs in setting prices. D) thereby misallocates resources because sales will be less than if a single price is charged.
Which firm is not dealing with adverse selection
a. a manufacturer requires a 90 day probationary period for new employees b. a temporary clerical agency requires a typing test c. a manufacturer contracts with suppliers regardless of ISO 9000 status d. Smokers get the worse life insurance rates as non-smokers
The introduction of ____ had a long delayed effect on raising productivity growth in the late 1990s.
Fill in the blank(s) with the appropriate word(s).