Bargain airline fares in which airlines charge varying rates to passengers for the same flight and service is an example of
a. market penetration
b. transaction pricing.
c. collusion.
d. price discrimination.
d
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Suppose that a new drug has been approved to treat a life-threatening disease. The demand for that drug is shown on the graph below. Prior to approval of this drug, the only treatment for this condition was any one of several non-prescription, or over-the-counter, pain relievers. The demand for one brand of the several non-prescription pain relievers is also shown on the graph. 
At a price of $15 (the price at which the two demand curves intersect), the price elasticity of demand for the new drug is ________ the price elasticity of demand for the over-the-counter pain reliever.
A. less than B. the same as C. greater than D. the reciprocal of
Political freedom seems to be ________ important to growth than economic freedom.
A. critically B. more C. less D. equally
Input prices fall as entry occurs in a decreasing-cost industry.
Answer the following statement true (T) or false (F)
The underground economy refers to
A) transactions in mineral and mining activity. B) cash payments made in lieu of credit cards. C) cash payments made in order to avoid documentation of taxable income. D) hoarding of dollar bills in high-inflation countries.