Monopolists who perfectly price discriminate produce the socially efficient level of output.
Answer the following statement true (T) or false (F)
True
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The economic systems of the former Soviet Union, the People's Republic of China, and Cuba are best classified as:
a. traditional economies. b. command economies. c. market economies. d. decentralized economies.
In 2014, a farmer grows and sells $3 million worth of corn to Big Flakes Cereal Company. Big Flakes Cereal Company produces $8 million worth of cereal in 2014, with sales to households during the year of $7 million. The unsold $1 million worth of cereal remains in Big Flake Cereal Company's inventory at the end of 2014 . The transactions just described contribute how much to GDP for 2014?
a. $3 million b. $7 million c. $8 million d. $11 million
The organization of the context and process in which people make decisions is called:
A. choice architecture. B. ways and means theory. C. political structure. D. choice structure.
Economic discrimination and prejudice
A. are synonymous. B. must both exist in statistical discrimination. C. often occur together. D. are mutually exclusive.