If a firm wanted to know whether the demand for its product was elastic, unit elastic, or inelastic, then the firm could
A) survey competitors and ask them what they think demand elasticity is for the product.
B) not do anything as there is no way to find an elasticity value.
C) change price a little bit and observe what happens to total revenue.
D) talk to its customers.
C
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A 91-day $10,000 Treasury bill is selling for $9,000. The bill's coupon equivalent yield is __________ percent
A) 3.96 B) 4.46 C) 8.02 D) 10.0
What is/are the central argument(s) against tariffs?
(a) They redistribute income away from consumers who are paying higher prices because of the tariffs. These rents are given to the individual industries that are protected by the tariffs and are operating inefficiently. (b) A laissez-faire economy is the American way. (c) They protect the wealthy. (d) They benefit only fast-growing industries.
When a firm sells a given product at more than one price and the price difference is NOT caused by differences in cost then there is
A) price discrimination. B) price differentiation. C) price demarcation. D) price delineation.
When a positive externality is present in a market, total surplus is:
A. higher when buyers only consider private costs. B. lower when buyers only consider private costs. C. lower when buyers consider social costs. D. None of these statements is true.