Which of the following is not a necessary characteristic of a successful price discriminator?
a. It has market power.
b. It can prevent the resale of the product
c. Its marginal costs of production differ across customers.
d. Willingness to pay for its product differs across customers.
c
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Which of the following would cause a movement up (or leftward) along the demand curve for European autos in the United States?
A. An increase in the price of American autos B. A decrease in the price of American autos C. An increase in income in the United States D. An increase in the price of European cars
The existence of money makes trade easier. How is it that money can also increase the standard of living?
If at a given real interest rate desired national saving is $140 billion, domestic investment is $90 billion, and net capital outflow is $60 billion, then at that real interest rate in the loanable funds market there is a
a. surplus. The real interest rate will rise. b. surplus. The real interest rate will fall. c. shortage. The real interest rate will rise. d. shortage. The real interest rate will fall.
The highest-valued alternative that must be given up to engage in an activity is the definition of
A) economic equity. B) marginal benefit. C) opportunity cost. D) marginal cost.