The most immediate and direct effect of minimum price laws designed to prevent predatory pricing is to
A) guarantee profits to all sellers, large or small.
B) guarantee profits to large sellers exclusively.
C) guarantee profits to small sellers exclusively.
D) preserve competition without guaranteeing profits.
E) prevent competition without guaranteeing profits.
E
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Entrepreneurship is
A. the financial capital necessary to launch a new business. B. the talent to develop new products and processes and to organize production to make goods and services available. C. unskilled labor. D. the capital resources used to produce goods and services.
With two-part pricing
A) the consumer puts down a deposit and then pays the rest when she picks up the goods purchased. B) the average price paid varies with the number of units purchased. C) the consumer is limited in the number of units that can be purchased. D) consumers are required to buy two units of a good.
If fiscal policy makers increase aggregate demand in an attempt to decrease the unemployment rate below the natural rate of unemployment, then: a. the potential GDP will decrease
b. the potential GDP will increase. c. the only lasting impact of the policy is a higher price level. d. the only lasting impact of the policy is higher real GDP. e. the only lasting impact of the policy is lower real GDP.
The monopoly can shift the demand for its product rightward by
What will be an ideal response?A) accommodating new uses for its product B) advertising new uses for its product C) moving along the learning curve D) All of the above