Perfect price discrimination is when a firm can charge each customer exactly what they are willing to pay.
Answer the following statement(s) true (T) or false (F)
Answer: True
Economics
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An increase in capital stock will shift the production function
a. downward. b. rightward. c. upward. d. outward.
Economics
Fractional reserve banking has three crucial features: bank profitability, bank discretion over the money supply, and bank exposure to runs.
Answer the following statement true (T) or false (F)
Economics
In the long run, a year-long drought that destroys most of the summer's wheat crops causes permanently:
A. higher prices. B. lower prices. C. lower output. D. None of these is true.
Economics
Which of the following would be considered an external shock?
A. a depression B. a recession C. a war D. a decline in tax revenues during a recession
Economics