Of the three types of price-discrimination, which yields the greatest profits to the firm?
A) first-degree price discrimination
B) third-degree price discrimination
C) zero-degree price discrimination
D) second-degree price discrimination
A) first-degree price discrimination
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If a lower price for good X increases the demand for good Y, the cross elasticity value for the two goods is
A) negative. B) equal to zero. C) positive and less than one. D) positive and greater than one. E) possibly negative, positive, or zero, but there is not enough information to decide.
In Brown v. Board of Education, the Supreme Court ruled that segregated facilities were inherently unequal
Indicate whether the statement is true or false
From 1700-1780, the colonial population increased at a rate of approximately 3 percent per year. This rapid population growth was primarily due to
a. immigration from England. b. immigration from central Europe. c. higher birth rates in the colonies than in Europe. d. importation of slaves from Africa.
Let L represent the number of workers hired by a firm, and let Q represent that firm's quantity of output. Assume two points on the firm's production function are (L=6,Q=147) and (L=7,Q=184). The marginal product of the seventh worker is
a. 25 units of output. b. 27 units of output. c. 37 units of output. d. 184 units of output.