"Personalized pricing" and "group pricing" are examples of:
A) first-degree and second-degree price discrimination, respectively.
B) second-degree and third-degree price discrimination, respectively.
C) first-degree price discrimination.
D) first-degree and third-degree price discrimination, respectively.
D
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Refer to Figure 4-3. What area represents the deadweight loss at the equilibrium price of P1?
A) C + E B) C + E + H C) G + H D) There is no deadweight loss at the price of P1.
Refer to the above figure. An external cost exists. The amount of that cost is represented by
A) P2. B) Q1. C) the vertical distance between point A and the supply curve S1. D) the distance between C and A.
A substantial revision of the income tax code that made business and personal tax returns much easier to complete would tend to cause which of the following changes in the labor market for accountants?
a. an increase in the demand for accountants b. an increase in the employment of accountants c. a decrease in the wage rate of accountants d. an increase in the number of students choosing to major in accounting
In the aggregate expenditures model, which of the following variables is assumed to be independent of real GDP?
A) Investment B) Profit C) Saving D) Consumption