Some firms require consumers to pay an initial fee for the right to buy their product and an additional fee for each unit of the product they purchase. This practice is referred to as
A) dual pricing. B) odd pricing.
C) a two-part tariff. D) intertemporal pricing.
C
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What are the key differences in antitrust enforcement in the U.S. and Europe?
A) EU authorities may only impose civil fines B) It is generally easier to show that a firm is dominant under EU law C) EU antitrust investigations are conducted more quickly than in the U.S. D) all of the above
Answer the following questions true (T) or false (F)
1. For a natural monopoly, the marginal cost of producing an additional unit of its product is relatively small. 2. The National Football League has long-term leases with the stadiums in major cities. Control of these stadiums is an entry barrier to a potential new football league. 3. Most pharmaceutical firms selling prescription drugs continue to earn economic profits long after the patents on the prescription drugs expire because they have established a strong foothold in the market.
At the point where the consumption schedule intersects the 45-degree line:
A. the MPC is 1.00. B. the APC is 1.00. C. saving is equal to consumption. D. the economy is in equilibrium.
A local property tax is a tax on ________, while a tax on your salary is a tax on ________.
A. a flow; income B. a residential holding; a flow C. a flow; a stock D. a stock; a flow