In a perfectly competitive industry, the firm's marginal revenue curve is
A) downward sloping.
B) upward sloping.
C) vertical.
D) horizontal.
D
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When consumers pay only a fraction of the true cost of medical services, their demand increases. The marginal cost of producing these extra services
A) is less than the marginal benefit consumers receive from them. B) is equal to the marginal benefit consumers receive from them. C) is greater than the marginal benefit consumers receive from them. D) is zero due to the insurance payments.
Which of the following would not be categorized as a form of third-degree price discrimination?
A) Group pricing. B) Promotional pricing. C) Versioning. D) Personalized pricing.
A decrease in the foreign real interest rate will tend to cause, other things the same ________
A) a decrease in the return on dollar assets relative to foreign assets B) an increase in the demand for dollars C) a depreciation of the domestic currency D) individuals to hold fewer dollar assets
A tariff is a tax on ________ goods that is designed to ________
a. exported; protect domestic industries b. exported; hurt foreign industries c. imported; make domestic consumers pay more d. imported; protect domestic industries e. domestic; discourage imports