A firm announces that in order to purchase a Blu-ray player, its customers must also purchase 10 Blu-ray discs. This is an example of:
A. a tie-in sale.
B. monopoly pricing.
C. price discrimination.
D. predatory pricing.
Answer: A
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If the marginal product of capital doesn't change as the amount of capital increases, a figure showing the relationship between output and capital
A) is a straight line with constant upward slope. B) is a straight line with a slope of zero. C) is a vertical line. D) slopes upward with a slope that declines as the amount of capital increases.
Workers prefer layoffs to wage reductions during economic downturns because
A) layoffs benefit workers more than the firms. B) workers try to provide firms with incentives to report true economic conditions. C) firms will keep workers even during economic downturns to avoid more costs. D) there is symmetric information.
Entrepreneurial judgment requires
a. the ability to use perfect information about the suture to your advantage. b. the ability to discover new approaches or solutions to complex problems. c. the use of government regulations to prevent competition d. that a firm make a profit.
One advantage of ____________ is being able to set the industry standard.
Fill in the blank(s) with the appropriate word(s).