__________ is starting to challenge the United States regarding the reputation of being a top throwaway society or of being a heavy consumer society
a. Brazil
b. Columbia
c. Thailand
d. China
D
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Define price discrimination. What factors must be present in order for a firm to price discriminate? Why do firms price discriminate?
What will be an ideal response?
In the new Keynesian view a monopolistically competitive firm may fail to increase the price of its product as demand increases because
A) if it does so it will lose all of its customers. B) the cost to it of changing prices may exceed the benefit of doing so. C) prices of monopolistically competitive firms are regulated by the federal government and may only be changed with permission. D) for a monopolistically competitive firm, price is below marginal cost.
In deciding whether to invest in excess capacity in order to deter entry, incumbents should consider all of the following except
a. the order of play in pricing and capacity choice decisions b. the customer sorting pattern c. the sunk cost required to achieve excess capacity d. the joint-profit-maximizing cartel output e. the potential entrant's projected profitability
A preferred provider organization (PPO) is: a. an organization that contracts with physicians, medical facilities, employers, and individuals to provide medical care to a group of individuals. b. a network of doctors who agree to provide services to a health plan's enrollees at discounted fees
c. a not-for-profit hospital network. d. a structure that utilizes traditional insurance plans.