A photograph processing machine company requiring customers that buy a processing machine to purchase chemicals and photographic paper from them is an example of
A) bundling.
B) a requirement tie-in sale.
C) quantity discrimination.
D) a two-part tariff.
B
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You and two partners start a company. However, your partners play no role in running the company. You devote all our time and talent to run your own business rather than working for someone else. You incur an(a):
a. explicit cost. b. marginal cost. c. sunk cost. d. opportunity cost.
The market process is dynamic
Indicate whether the statement is true or false
The standard definition of "recession" is
A) a period of a positive frictional unemployment rate. B) two consecutive quarters of falling Real GDP. C) the lowest point in a business cycle. D) a period of negative inflation.
Increasing the share of your income that you save is good for you. Therefore it would be good for the whole economy if everyone saved more. This exemplifies the:
A. Post hoc fallacy B. Fallacy of composition C. Use of loaded terminology D. Confusion between correlation and causation