Which of the following is NOT an example of firms trying to prevent resale?
A) Movie theatres check student ID for students' discounted tickets.
B) An aluminum company starts its own wire production firm to sell to the aircraft parts at a higher price.
C) Government limits the sale of international edition textbooks in the U.S. market.
D) Milk producers sell the milk to processed dairy products producers at a lower price.
D
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Any rule that is used to make a choice is
A) positive-sum game. B) zero-sum game. C) strategy. D) negative-sum game.
A value of the absolute price elasticity of demand equal to 0.6 indicates that
A) a 6 percent increase in price leads to a 10 percent decrease in quantity demanded. B) a 10 percent increase in price leads to a 6 percent decrease in quantity demanded. C) a 0.6 percent increase in price leads to a 1 percent decrease in quantity demanded. D) a 1 percent increase in price leads to a 6 percent decrease in quantity demanded.
Money is an imperfect store of value when
a. the rate of inflation is high. b. the unemployment rate is high. c. gold prices are falling. d. businesses are failing due to bankruptcy.
When you pay for items that are consumed immediately or wear out quickly by financing them with your credit card, your wealth
A) decreases. B) is non-taxable. C) expands. D) is saved for future use.