Many golf courses charge members an annual membership fee as well as a fee each time they golf. One reason for this is
A) charging both fees allows the courses to transfer more producer surplus into profit than charging only an admission fee.
B) golf courses do not want their members to overuse their fairways. Charging for each round of golf played reduces fairway maintenance costs.
C) research has shown that charging both fees increases the likelihood that golfers will renew their memberships.
D) charging both fees allows the courses to transfer more consumer surplus into profit than charging only an admission fee.
D
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In the United States, the growth rate of expenditures has been most volatile for
A) durable goods. B) nondurable goods. C) services. D) The volatility has been roughly equal for all three categories of consumption expenditures.
Which among the following countries had the highest GDP per person in 2011?
A. Mexico B. India C. Russia D. China
Who or what did Edwards Deming blame for the problems in American manufacturing?
A. Tariffs B. Steel prices C. The system D. The workers
Economists assume that consumers behave in a manner consistent with the _______ of utility.
a. maintenance b. minimization c. maximization d. final degree