If Mario's pizza states that it will meet any competitor's price on a 12 inch, one topping pizza, this is an example of ________.
A) a high barrier to entry
B) a preannouncement
C) price leadership
D) a meet-the-competition clause
D) a meet-the-competition clause
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In-kind transfer programs such as Medicaid have increased more rapidly than other welfare programs over the last decade
a. True b. False
Questions 4 and 5 show that the demand curve facing any firm and hence the pricing policy it chooses
What will be an ideal response?
Suppose under a gold standard the price of gold in the United States is $450 per ounce and the price of gold in the United Kingdom is 200£ per ounce. The exchange rate is thus
A. $0.45 per pound. B. $2.25 per pound. C. 2.25£ per dollar. D. 0.54£ per dollar.
If demand is perfectly elastic, the absolute value of the price elasticity coefficient is
A) infinity. B) zero. C) one. D) equal to the absolute value of the slope of the demand curve.