A firm uses ________ for goods which the consumer takes pride in owning
A) price skimming
B) prestige pricing
C) penetration pricing
D) predatory pricing
B
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The figure above shows Sam's budget line. Which of the following equals the vertical intercept of Sam's budget line?
A) Y/Pc B) Y/Pg C) -(Pc/Pg) D) -(Pg/Pc)
Economic theory predicts that
(a) market forces impose stiff penalties on profits whenever enterprises discriminate against individuals on any basis other than productivity. (b) government intervention is required to combat discrimination. (c) market mechanisms and government interventions are weak in addressing issues of discrimination. However, government is relatively stronger. (d) discrimination is a necessary part of life private and public life.
As a result of moving more decision making from the periphery of the organization toward the center, typically
a. the flow of relevant information to the decision maker can be weakened b. the flow of relevant information from the decision should be enhanced c. the incentive structure for the decision maker should be strengthened d. incentive compensation at the periphery can be weakened
Suppose a firm's technology is represented by the Cobb-Douglas production function F(L, K) = 5LK. The wage rate is $50 and the rental rate of capital is $10. What is the least-cost combination to produce 100 units of output?
What will be an ideal response?