The use of "anytime minutes" and "after-hour minutes" suggests that price is being influenced by
A) extensions.
B) costs.
C) time.
D) constant elasticities.
C
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When jobs are easy to find, wage increases are frequently given, and businesses are doing well, the economy is most likely in a(n):
A. expansion. B. surplus. C. depression. D. recession.
When firms charge different prices to different consumers for the same good or service, it is referred to as ________
A) price bias B) shadow pricing C) predatory pricing D) price discrimination
Use the following general linear demand function below: Qd = a + bP + cM + dPRwhereQd = quantity demanded, P = the price of the good, M = income, PR = the price of a good related in consumption.For the general linear demand function given above
A. d is the effect on the quantity demanded of the good of a one-dollar change in the price of the related good, all other things constant. B. b is the effect on the quantity demanded of the good of a one-dollar change in the price of the good, all other things constant. C. ?Qd / ?M = c. D. all of the above
While there is no specific number of firms that must dominate an industry before it is an oligopoly, the number of sellers characterizes an oligopoly when
A. there are more firms than a monopolistically competitive market. B. there is a sufficient number of firms to satisfy the market demand. C. the firms are so large relative to the total market that they can affect the market price. D. the firms are so small relative to the total market that they cannot affect the market price.