The Internet has made it possible to compare lots of prices without incurring a lot of cost. If Internet access is unequally distributed throughout the population, one would expect
A) consumers with Internet access to pay a higher price.
B) consumers without Internet access to pay a lower price.
C) price discrimination against consumers without Internet access.
D) firms to charge the same price to all consumers.
C
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All other things constant, when the interest rate increases: a. the demand for investment curve shifts to the right
b. the demand for investment curve shifts to the left. c. there is a movement downward along the demand for investment curve. d. there is a movement upward along the demand for investment curve. e. GDP increases.
If the slopes of the ________ involving corn and wheat in the United States and Canada are equal, specialization does not benefit either country.
A. production possibility frontiers B. marginal revenue curves C. supply curves D. demand curves
After the Arab oil embargoes, there was concern about the impact of higher gas prices on the low-income worker. The government imposed price controls on oil to protect the poor from this situation. Explain the inefficiency of this price ceiling and how taxes, rather than prices, could be used to solve the problem.
What will be an ideal response?
Research by Fogel and Engerman shows that, holding other factors constant, output per unit of total input was highest for Southern farms with:
a. no slaves. b. 1 to 15 slaves. c. 16 to 50 slaves. d. 50 or more slaves.