Since World War II, we have had one long period of very slow productivity growth beginning ____ and ending in ____.
Fill in the blank(s) with the appropriate word(s).
the mid-1970s; the mid-1990s
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Figure 6-6
The purchase of premium cable channels is an “all-or-nothing” choice. Which graph in Figure 6-6 best illustrates the cable market demand curve?
A. 1 B. 2 C. 3 D. 4
Clarissa Kessler operates a store that sells toys. Her business suffered tremendously when a giant discount store chain opened a store in the area and is able to sell its products for less than Clarissa's wholesale cost
Is this evidence of illegal price discrimination on the part of the discount store chain? A) No, even if the price discrimination is based on differences in cost, the law states that it is not illegal. B) No, because it can be argued that the discount store chain is justified in charging lower prices because it is a large-volume buyer and is able to purchase toys at a lower wholesale price than Clarissa. C) Yes, it is clearly a violation of the Robinson-Patman Act. D) Yes, the discount store chain is engaging in predatory pricing.
Regression analysis can best be described as
A) a statistical technique for estimating the best relationship between one variable and a set of other selected variables. B) a statistical technique for determining the true values of variables. C) a statistical technique for creating functional relationships among variables. D) None of the above
If firms in a competitive market are not identical, then an increase in cost will
A) shift marginal cost to the right. B) push the most inefficient firms out of the market. C) push the most efficient firms out of the market. D) There is not enough information to answer.