Price coordination among firms will be more difficult when there are substantial differences among the cost structures of the competing firms and the technologies they employ
Indicate whether the statement is true or false
TRUE
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Consumers prefer inefficient third degree price discrimination to efficient first degree price discrimination.
Answer the following statement true (T) or false (F)
Suppose a person receives an education in her home country. Which of the following will tend to make the increase in GDP of the person's home country larger than the increase in this person's income?
a. externalities and brain drain b. externalities but not brain drain c. brain drain but not externalities d. neither externalities nor brain drain
Tangible items consumed for a short-period of time are called ______.
a. nondurable services b. durable services c. nondurable goods d. durable goods
Since a monopolistically competitive firm has a monopoly over the particular product it produces, the firm is guaranteed a profit in the long run.
Answer the following statement true (T) or false (F)