If Kenya institutes policies that support economic freedom and growth, it is likely that Kenya will
A) immediately reap the benefits of double digit increase in economic growth.
B) immediately reap the benefits of a 4 percent to 6 percent increase in economic growth.
C) slowly reap the benefits of economic growth as the economy grows over time.
D) lose control of the economy and plunge into a long recession.
E) suffer from too much competition within its economy.
C
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Automobile manufacturers often use incentive programs, including special financing rates and cash rebates, to increase sales. However, a customer is usually restricted to choosing either the low financing rate or the rebate, but not both
Is this an example of price discrimination? If so, what type? Explain your reasoning.
The demand for gold increases, other things equal, when
A) the market for silver becomes more liquid. B) interest rates are expected to rise. C) interest rates are expected to fall. D) real estate prices are expected to increase.
If a market is controlled by one perfect price discriminator who is able to charge each consumer the highest price that consumer is willing to pay, the seller will produce output until the price paid by the last consumer is equal to the marginal cost
of making the good. That is, the price of the last good equals the marginal cost of making the good. If welfare is measured as consumer surplus plus producer surplus, compare this market structure to a competitive market in terms of efficiency and equity.
Which of the following is considered to be a cost of information?
a. The price of the commodity for which information is collected. b. The time spent to collect the information. c. The difference in price charged by different sellers for the same commodity. d. The difference in price paid by different buyers for the same commodity.