A "buy one, get one for half price" promotion is an example of
A) price discriminating among units of a good.
B) price discriminating among groups of buyers.
C) a legal monopoly.
D) a natural monopoly.
E) marketing by a perfectly competitive firm designed to increase the firm's sales.
A
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If a lower price for a Pepsi decreases the demand for a Coke, the cross elasticity value for Pepsi and Coke is
A) definitely negative. B) definitely equal to zero. C) definitely positive. D) definitely greater than one. E) possibly negative, positive, or zero, but there is not enough information to decide.
A ________ system is one in which households pay the same percentage of their incomes in taxes regardless of their income level
A) progressive B) regressive C) proportional D) complementary
The actual division of a tax between buyers and sellers in a market is the excess burden of the tax
Indicate whether the statement is true or false
Chief Justice John Marshall had a strong conviction that
(a) slavery would only work in the South. (b) a country needs a central government with enough power to place in check state and local interests when the development and growth of the country is concerned. (c) strong state banking systems would help the nation's commerce. (d) the Constitution should be interpreted literally.