All of the following are required to make a tying arrangement vulnerable to antitrust prosecution except which one?
A) There must be at least three products involved.
B) There must be proof of an actual tie between two products.
C) The seller must have substantial market power in the market for the tying product.
D) There must be some nontrivial amount of commerce affected by the tying contract.
A) There must be at least three products involved.
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Complete tastes are tastes that make people desire at least some of every good.
Answer the following statement true (T) or false (F)
The ________ the reserve ratio, the ________ the money multiplier
A) larger; larger B) smaller; smaller C) smaller; larger D) None of the above are correct.
When individuals and businesses are permitted to trade freely over a larger market area,
a. wages will decline to the level of the poorest country in the region. b. the monopoly power of business firms will increase. c. they will be able to produce a larger output and consume a more diverse bundle of goods. d. businesses will be able to earn higher profits, but the income levels of individuals will decline.
Table 30.2Number of stylists (per week)Total output (per week)Marginal physical product (output per stylist)Total revenue (dollars per week)Marginal revenue product (dollars per stylist)00---________---160________________________280________________________390________________________490________________________Table 30.2 shows how many hairstyling appointments a hair salon can schedule per week based on the number of stylists. In the spaces provided, compute the marginal physical product (MPP) of the hair stylists, total revenue, and marginal revenue product of the stylists, assuming that a hair stylist charges $60 per appointment. What is the marginal revenue product of the second hairstylist?
A. $80 per week. B. $1,200 per week. C. $4,800 per week. D. $20 per week.