Success of communication depends on what 3 things?
What will be an ideal response?
Answer:
1. nature of the message
2. audience's interpretation
3. environment in which it is received
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Which of the following is a fixed cost of driving a car?
a. gasoline b. maintenance c. tires d. license plates e. motor oil
When a monopolist's marginal cost of production is zero:
a. the deadweight loss is reduced. b. production is lower than if marginal cost were positive. c. the price charged is higher than if marginal cost were positive. d. maximizing profit is same as maximizing revenue.
In which of the following situations would an individual experience an increase in real wages?
a. Receiving a 5 percent increase in nominal wages while inflation was 6 percent b. Taking a 3 percent cut in nominal wages while deflation was 4 percent c. Taking a 1 percent cut in nominal wages while inflation was 1 percent d. Receiving a 3 percent increase in nominal wages while inflation was 3 percent e. Receiving no increase in nominal wages while inflation was 0 percent
As a rationing mechanism, discrimination according to seller bias is
a. efficient and fair. b. efficient, but potentially unfair. c. inefficient, but fair. d. inefficient and potentially unfair.