You are in charge of the local city-owned aquatic center. You need to increase the revenue generated by the aquatic center to meet expenses. The mayor advises you to increase the price of a day pass. The city manager recommends reducing the price of a day pass. You realize that
a. the mayor thinks demand is elastic, and the city manager thinks demand is inelastic.
b. both the mayor and the city manager think that demand is elastic.
c. both the mayor and the city manager think that demand is inelastic.
d. the mayor thinks demand is inelastic, and the city manager thinks demand is elastic.
d
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There are circumstances under which the corporation tax is equivalent to an economic profits tax.
A. True B. False C. Uncertain
The effects of an increase in real money demand on an economy
A) is an argument against flexible exchange rates. B) is an argument in favor of flexible exchange rates. C) shows the difficulties in determining which exchange rate regime is better. D) is an argument in favor of flexible exchange rates only in the short run. E) is an argument against flexible exchange rates only in the short run.
Economic profit is defined as total revenue
a. plus total costs b. minus marginal costs c. minus variable costs d. minus total costs e. minus fixed costs
Which of the following U.S. antitrust laws prohibits mergers through the acquisition of a firm's assets if the merger would lessen competition?
a. the Sherman Antitrust Act b. the Clayton Act c. the Robinson-Patman Act d. the Celler-Kefauver Anti-Merger Act e. the Federal Trade Commission Act