Price discrimination is a result of the ______ motive.
a. profit minimization
b. profit maximization
c. social awareness
d. free trade
b. profit maximization
You might also like to view...
The substitution effect of a wage decrease examines the effect of the decrease in wage income on a worker's ability to consume goods and services
Indicate whether the statement is true or false
If a firm increases its output level in the short run, then
a. variable cost rises but fixed cost remains unchanged b. both variable cost and fixed cost rise c. variable cost rises, but fixed cost fall d. both variable cost and fixed cost fall e. variable cost remains unchanged, but fixed cost rises
At any given price level, equilibrium GDP on the expenditure side occurs when ____.
A. Y = C + I + G ? (X ? IM) B. Y = C + I – G C. Y = C + I + G + (X ? IM) D. Y = C + X + G + (X ? IM)
If, as an entrepreneur, I am earning accounting profits of $60,000 per year and the opportunity cost of my time is $50,000
A. I should close my business. B. I am earning economic losses of $10,000. C. I am earning economic profits of $110,000. D. I am earning economic profits of $10,000.