A manufacturer will sell its product only to retailers who agree to buy its brand. This is an example of:
a. price discrimination.
b. exclusive dealing.
c. a tying contract.
d. interlocking directorates.
c
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If incomes were equal in an economy can you think of any other problems that might exist as a result of this equality?
What will be an ideal response?
At any point where a monopolist's marginal revenue is positive, the downward-sloping straight-line demand curve is:
a. perfectly elastic. b. elastic, but not perfectly elastic. c. unit elastic. d. inelastic.
A period of sustained growth in output in an economy is referred to as a(n) _____
a. expansion b. contraction c. peak d. trough e. recession
The two standard ways of defining poverty thresholds are
a. percentage of median income and basic needs b. number of poor and quintiles c. unearned income of the poor and and welfare d. ratio of the poor's wealth and ratio of the poor's income e. below minimum wage income and above minimum wage income