____ is the act of buying a commodity in one market at a lower price and selling it in another market at a higher price
a. Buying short.
b. Discounting.
c. Tariffing.
d. Arbitrage.
d
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The purely competitive employer of resource A will maximize the profits from A by equating the
A. price of A with the MRC of A. B. marginal productivity of A with the price of A. C. price of A with the MRP of A. D. marginal productivity of A with the MRC of A.
You are the manager of a theater. At present the theater charges the same admission price of $8 to all customers, regardless of age. You propose a two-tier pricing scheme: $5 for children under the age of 12 and $10 for adults
You tell your supervisor that your proposal is likely to increase revenue. What must be true about the price elasticity of demand if your proposal is to achieve its goal of raising revenue? Explain your answer.
In the presence of asymmetric information, production efficiency is assured when the principal and agent share the profit
Indicate whether the statement is true or false
A bank can actually create money by
a. lending its required reserves. b. ordering newly printed money from the Fed. c. lending its excess reserves. d. None of these.