When Crest claims that its toothpaste product whitens teeth more than the products of its competitors, Crest is practicing
A) product differentiation.
B) libel.
C) marginal revenue pricing.
D) marginal cost pricing.
A
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All else held constant, if the government places a tax on each gallon of gasoline produced, then this would cause a
A. movement down along the current supply curve of gasoline. B. rightward shift in the current supply of gasoline. C. leftward shift in the current supply of gasoline. D. movement up along the current supply curve of gasoline.
Refer to Figure 5-3. The efficient output level is
A) Qo. B) Qo - Qm. C) Qm. D) Qn.
Always There Wireless is wireless monopolist in a rural area. There are 200 customers, each of whom has a monthly demand curve for wireless minutes of Qd = 200 - 100P, where P is the per-minute price in dollars and Q is the number of wireless minutes. The marginal cost of providing the wireless service is $0.25 per minute. If Always There charges $0.25 per minute, how large of a fixed monthly fee can it charge and still persuade customers to buy their service?
A. $200 B. $153.13 C. $306.25 D. $175
Governments impose excise taxes on goods that have inelastic demand, such as cigarettes, more often than in other cases. Why?
What will be an ideal response?