Fill in the blanks. Which of the following has been found by researchers in surveys of consumers? Most people consider it _________ for firms to raise their prices following an increase in costs ____________ to raise prices following an increase in demand.
a. fair; and fair
b. fair; but unfair
c. unfair; but fair
d. unfair; and unfair
b. fair; but unfair
You might also like to view...
The law of diminishing marginal returns in a manufacturing plant of a fixed capacity implies that, eventually, employing
A. one less worker will decrease the average product per worker. B. one less worker will not affect the average product per worker. C. one more worker will increase the average product per worker. D. one more worker will decrease the average product per worker.
Which of the following is true of the per person income of the West (Western Europe and its offshoots of the United States, Canada, Australia, and New Zealand)
a. It has increased each century and grown steadily since 1500. b. It is now approximately 20 times greater than the figure of 200 years ago. c. It rose steadily between 1000 and 1800, but income growth has slowed during the past 200 years. d. While income per person has increased since 1800, there has been little change in life expectancy and other indicators of quality of life during this time period.
Which of the following acts outlawed selling products at "unreasonably low prices" with the intent of reducing competition?
A) Sherman Act B) FTC Act C) Robinson-Patman Act D) Wheeler-Lea Act
A government budget surplus is
A. the public debt. B. a situation in which the amount spent by the government is greater than the amount collected in taxes. C. a situation in which the supply of goods in the economy is greater than the demand for goods. D. an excess of revenues over government spending.