An employer faces a minimum wage control where it cannot pay its workers any less than $10.25 an hour. The employer knows that the workers value the jobs and are willing to work even at much less. The employer decides to offer them the minimum wage but forces them to buy their uniforms from the employer. This is an example of
a. Tying
b. Bundling
c. Exclusion
d. Fraud
a
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In many political elections, states often hold a primary election, and the winners of the primary election face off in the general election. This method of voting is called a ________ election
Fill in the blank(s) with correct word
Which of the following determines the quantity demanded of a commodity?
a. The income levels of consumers b. The price of the commodity c. The prices of related commodities d. The number of buyers e. Consumers' expectations
A rightward shift in the demand curve for a product will ordinarily result from
a. a decrease in the advertising budget. b. a decrease in the price of a competing product. c. an increase in consumer income. d. an increase in the price of a complementary good.
If the price of airline travel in Europe falls and the demand for train travel in Europe also falls, then the two goods are
A) complements. B) normal goods. C) substitutes. D) inferior goods.