Price discrimination is based on differences in ________ among groups of consumers and the differences in ________ that will result.
A. cross elasticities of demand; revenues
B. price elasticities of demand; profits
C. quantities supplied; marginal revenues
D. income elasticities of demand; marginal costs
Answer: B
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In the United States, resources are most often allocated by
A) market price. B) command system. C) lottery. D) contest.
An improvement in technology will tend to cause a society's production possibilities curve to shift outward
a. True b. False Indicate whether the statement is true or false
Speculation in exchange markets is often thought of as conducive to wild fluctuations in exchange rates. In practice it appears that speculators
a. have destabilized several currencies that were at sustainable equilibrium levels. b. have no effect in fixed rate systems. c. in fact tend to stabilize exchange rates rather than destabilize them. d. All of the above are correct.
Refer to the information provided in Figure 32.1 below to answer the question(s) that follow.
Figure 32.1Refer to Figure 32.1. The tax rate that will ________ is associated with Point B.
A. maximize tax revenue B. maximize unemployment C. minimize tax revenue D. minimize inflation