The only types of firms that cannot theoretically practice price discrimination are perfectly competitive firms
a. True
b. False
Indicate whether the statement is true or false
True
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In neoclassical growth theory, technological progress is the key to continuous growth in labor productivity
Indicate whether the statement is true or false
In a free market there are virtually no restrictions, or at best few restrictions, on how a good or service can be produced or sold
Indicate whether the statement is true or false
Double markup problems arise when
a. upstream firms have market power b. downstream firms have no market power c. upstream and downstream products are unrelated in demand d. upstream and downstream firm's pricing decisions tend to increase the demand for the other product
Unemployment compensation payments:
A. rise during a recession and thus reduce the severity of the recession. B. rise during a recession and thus increase the severity of the recession. C. rise during inflationary episodes and thus reduce the severity of the inflation. D. fall during a recession and thus increase the severity of the recession.