One necessary condition for effective price discrimination is:
a. identical tastes among buyers.
b. difference in the price elasticity of demand among buyers.
c. a single, homogeneous market.
d. two or more markets with easy resale of products between them.
b
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A monopolist's supply curve is the portion of its marginal cost curve above average variable cost
a. True b. False
Which of the following is not classified as a service in the current account?
a. transportation b. insurance c. tourist expenditures d. income earned from foreign investments e. unilateral transfers
Which of the following is true of basic research? a. Basic research is the search for knowledge that does not aim at answering a specific question
b. Basic research is research that is not complex since it addresses elementary questions. c. Basic research is research that seeks to apply scientific discoveries to the development of specific products. d. Basic research is the search for knowledge to solve a particular problem. e. Basic research is always funded by the central government of a country.
Which of the following is included in GDP?
a. burglar alarm purchases b. crime c. traffic congestion d. income equality