If a firm is able to collect the entire producer surplus, it is said to have practiced perfect price discrimination
a. True
b. False
Indicate whether the statement is true or false
False
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A game of incomplete information is distinct from one of complete information in that players:
a. do not observe each others' actions. b. do not know each others' payoff functions. c. do not know the timing of moves. d. use mixed strategies.
Give some possible explanations of the productivity slowdown in the United States that occurred in the 1973–1995 period.
What will be an ideal response?
Lags in the approval and implementation of fiscal policy _____
Fill in the blank(s) with the appropriate word(s).
Setup Corporation buys $100,000 of sand, rock, and cement to produce ready-mix concrete. It sells 10,000 cubic yards of concrete at $30 a cubic yard. The value added by Setup Corporation is:
A. $300,000. B. $100,000. C. $200,000. D. zero dollars.