Under conditions of first-degree price discrimination
A) production will equal that which would exist under perfect competition.
B) production will exceed that which would prevail under perfect competition.
C) prices will be lower than under perfect competition.
D) production will always be lower than under perfect competition.
A
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If the government repeals an investment tax credit and increases income taxes,
a. real GDP rises, and the price level could rise, fall, or stay the same. b. real GDP falls, and the price level could rise, fall, or stay the same. c. real GDP and the price level rise. d. real GDP and the price level fall.
The Chinese, like the Japanese before them, have insisted on licensing agreements and large-scale transfer of technology as the price to agreeing to accept imports. But the Chinese have taken this process one step further by ______________________________________.
Fill in the blank(s) with the appropriate word(s).
Why are banks using more automatic teller machines (ATMs) and employing fewer human tellers? What economic principle is illustrated about resource markets by this example?
What will be an ideal response?
Refer to the information provided in Figure 2.5 below to answer the question(s) that follow.
Figure 2.5Refer to Figure 2.5. For this economy to move from Point C to Point B, ________ additional LCD TVs could be produced when the production of OLED TVs is reduced by 20.
A. exactly 30 B. exactly 60 C. fewer than 30 D. more than 30