To practice long-run price discrimination, a monopolist must:
A. charge one price to all buyers.
B. permit the resale of the product by the original buyers.
C. be a natural monopoly.
D. be able to separate buyers into different markets with different price elasticities.
Answer: D
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Contractionary fiscal policy leads to a ________
A) leftward shift of the labor demand curve B) rightward shift of the labor supply curve C) leftward shift of the labor supply curve D) rightward shift of the labor demand curve
The introduction of new technologies ________ the real interest rate and ________ the equilibrium quantity of national saving.
A. decreases; decreases B. increases; increases C. increases; decreases D. decreases; increases
Price floors are instituted because the government wants to:
A. help consumers. B. help producers. C. raise tax revenue. D. increase demand.
As disposable income rises, autonomous C ______ as a percentage of total C.
A. declines B. stays the same C. rises