Which of the following will prevent firms from engaging in price discrimination?
A) odd pricing
B) transactions costs
C) arbitrage
D) yield management
C
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In Figure 3-7 above, the multiplier for a change in autonomous taxes is
A) 5. B) 4. C) 2.50. D) 1.
The assumption that labor markets clear makes it very easy for the classical model to explain recessions
a. True b. False
Firms in monopolistic competition and oligopoly depend on some degree of brand loyalty. Which goods are able to command the most brand loyalty?
a. facial tissues b. cola drinks c. shampoo d. cigarettes e. toothpaste
Suppose demand is perfectly inelastic, and the supply of the good in question decreases. As a result,
a. the equilibrium quantity decreases, and the equilibrium price is unchanged. b. the equilibrium price increases, and the equilibrium quantity is unchanged. c. the equilibrium quantity and the equilibrium price both are unchanged. d. buyers' total expenditure on the good is unchanged.