Which of the following could not be considered price discrimination?
A. Airlines offering super-saver fares to everyone.
B. Movies offering cheap matinees.
C. Senior citizen's discounts.
D. The issuing of discount tickets to week-end travelers.
Answer: A
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In economics, the factor of production "land" includes all of the following EXCEPT
A) animals, birds, and fish. B) energy. C) wild plants. D) oil. E) plastics.
Which of the following is true (assume the small country case)?
A) With a quota, an increase in demand leads to a higher price and more imports. B) With a tariff, an increase in demand leads to a higher price and more imports. C) With either a tariff or a quota, an increase in demand leads to a higher price and more imports. D) None of the above are true.
The maximum price that consumers are willing to pay for the hundredth unit of a good can be found as
a. the height of the supply curve at a quantity of 100. b. the height of the demand curve at a quantity of 100. c. the difference between the height of the supply and demand curves at a quantity of 100. d. none of the above.
A binding price floor causes a shortage in the market
a. True b. False Indicate whether the statement is true or false