At many municipal golf courses, local residents pay a lower fee to play than other golfers do. One necessary condition for the golf course to be able to successfully price discriminate according to residency is that
A) they can check the identification cards of golfers.
B) local resident golfers and other golfers have the same price elasticity of demand to play at the municipal course.
C) there are many golf courses nearby from which golfers can choose.
D) they require all golfers to rent a cart.
A
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The National Labor Relations Act
A. forbade the closed shop. B. was an anti-labor piece of legislation. C. guaranteed labor the right to organize unions. D. allows firms to refuse to negotiate with an elected union.
The capital stock is fixed at 5 units, the price of capital is $60 per unit, and the price of labor is $20 per unit. 
Based on the above, if the firm produces 80 units of output, what is its total cost of production?
A. $5,040 B. $1,900 C. $540 D. $1,600 E. none of the above
What effect might a fall in stock prices have on busi-ness investment?
What will be an ideal response?
In a perfectly competitive market, if a firm finds it is producing an amount of output such that its marginal cost exceeds its price, it will
A) immediately shut down for the short run. B) be maximizing profits. C) increase its output to increase its profit. D) decrease its output to increase its profit.