A market force that can prevent firms from price discriminating is
a. fluctuating resource prices.
b. arbitrage.
c. high fixed costs.
d. marginal-cost pricing.
b
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Why might the use of more advanced technology not be a sufficient condition for sustained economic growth?
What will be an ideal response?
Using the concentration ratio to measure the degree of competition
A) may understate the degree of competition because it ignores imported goods. B) may overstate the degree of competition because it ignores imported goods. C) may overstate the degree of competition because inter-industry competition is ignored. D) may understate the degree of competition because market share changes annually.
Trade between nations usually means that
A. one country is richer than another. B. one country becomes richer while the other becomes poorer. C. both trading nations show some gains. D. one trading country is trying to “beggar its neighbor.”
The ease with which an asset can be converted into the medium of exchange is called
a. liquidity. b. velocity. c. the equation of exchange. d. the money multiplier.