Which of the following is NOT necessary for price discrimination to occur?
A) The firm must be able to separate the market into identifiable groups.
B) The firm must be selling a durable good.
C) The firm must have a downward sloping demand curve.
D) The firm has to be able to prevent resale of the product or service.
B
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If the cross elasticity of demand between peanut butter and milk is -1.11, then are peanut butter and milk substitutes or complements?
What will be an ideal response?
Currency consists of
A) only coins minted by the U.S. Treasury. B) only Federal Reserve notes. C) coins minted by the U.S. Treasury and Federal Reserve notes. D) coins, Federal Reserve Notes and traveler's checks.
An elasticity that would be considered only slightly inelastic would be
A. 0.1. B. 0.9. C. 1.0. D. 1.1.
What is the official definition of the poverty line? What are some causes of poverty?
What will be an ideal response?