If a firm can charge different prices for each consumer it can practice
A) second degree price discrimination.
B) perfect price discrimination.
C) third degree price discrimination.
D) consumer surplus reversal
B
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Variable costs are
A. sunk costs. B. costs that change with the amount of output a firm produces. C. costs that change every day. D. the change in total cost associated with the production of an additional unit of output.
A temporary embargo on oil from the Middle East going in to the United States would
A) shift both the short-run and long-run aggregate supply curves to the left. B) shift only the short-run aggregate supply curve to the left. C) shift the long-run aggregate supply curve to the right. D) shift only the long-run aggregate supply curve to the left.
In order to bring about a real depreciation of the dollar, the U.S. can hope for
A) a rise in the U.S. price level. B) a fall in foreign price levels. C) a rise in the dollar's nominal value in terms of foreign currencies. D) a rise in foreign price levels or a fall in the dollar's nominal value in terms of foreign currencies. E) increased output and full employment.
The median-voter theorem would suggest the reason politicians go from extreme to moderate positions on an issue over the course of an election is because they are appealing to the:
A. people in their party and opposing party. B. average voter in their party in the primary, and the average of all voters in the general election. C. median voter in their party in the primary, and the median of all voters in the general election. D. majority of voters in their party in the primary, and the majority of all voters in the general election.