Which of the following is an example for group price discrimination?
A) a BMW selling for more than a VW
B) local residents receiving a discount at the local golf course
C) the fact that a razor is cheap and blades are expensive
D) a hotel charging more for a room if the customers bring pets
B
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If the Fed were to attempt to increase the money supply, it would most likely do so
A) by manipulating the discount rate. B) by manipulating the required reserve ratio. C) by altering the amount of gold held in Fort Knox. D) by engaging in open market operations.
If a consumer spends all of his or her income and the marginal utility per dollar is equal for all goods, then
A) marginal utility is maximized. B) total utility is maximized. C) a consumer could not be better off even with greater income. D) the proportion of income spent on each good must be equal.
A contestable market is a market in which there are one or a few firms and entry into the market is not costly
Indicate whether the statement is true or false
A proprietorship is
A. a corporation that is taxed like an individual. B. a business owned by one individual who makes all of the decisions. C. two or more individuals in business together. D. a government-owned franchise.