From 1990 to 2013, mortality under age 5 has ________ and the literacy rate has ________ .
A. decreased; decreased
B. decreased; increased
C. increased; increased
D. increased; decreased
Answer: B
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In the above figure, if the quantity is equal to 2,500,000 units, the deadweight loss is equal to
A) area B + area F. B) area D + area I. C) area C. D) area G + area H. E) None of the above answers is correct because the deadweight loss is equal to zero.
BOGOs, i.e., buy-one, get-one-free offers, are an example of third-degree price discrimination
Indicate whether the statement is true or false
Market structure is defined as the:
a. number of firms in each industry. b. similarity of the product sold. c. ease of entry into and exit from the market. d. all of these.
Which of the following is considered to be the main disadvantage of the sole proprietorship form of business organization?
a. The proprietor and the firm are legally inseparable. b. The proprietor has personal independence. c. The focus of the proprietorship is on local markets. d. The access to local and family labor promotes legal dependence. e. The lack of a bureaucratic structure impedes growth.