"Tying" is a form of price discrimination which involves a buyer
A) agreeing to purchase a product at a fixed price regardless of the amount purchased.
B) paying different prices based on the amounts of a product purchased.
C) required to buy one product in order to purchase some other product.
D) All of the above
C
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If Utopia has a closed economy, the price of tile is $________ per case, and if it has an open economy the price of tile is $________ per case. 
A. 15; 10 B. 30; 15 C. 20; 15 D. 15; 20
Suppose Ethan and Ava work in a farm that grows apples and oranges of the same size. In one hour, Ethan can pick 8 pounds of apples or 1 pound of oranges. Ava can pick 6 pounds of apples or 1 pound of oranges. It can be concluded that
A) Ava has a comparative advantage in picking apples. B) Ava has an absolute advantage in picking apples. C) Ethan has a comparative advantage in picking apples. D) Ethan has an absolute advantage in picking oranges.
Larger quantities of any good will be supplied at higher prices because
a. consumers will be more satisfied b. higher prices attract resources from other uses c. people are naturally lazy and have to be bribed to give up their leisure d. price and quantity supplied are inversely related e. of the law of decreasing opportunity cost
For an efficient outcome, MR must exceed MC.
Answer the following statement true (T) or false (F)