Which of the following is an example of customer discrimination?
a. A foreign government prevents women from legally working as teachers.
b. White theater goers prefer to watch movies with white stars rather than black stars.
c. Customers prefer more experienced lawyers over less experienced ones.
d. All of the above are correct.
b
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The U.S. Postal Service has a monopoly over first-class mail service because
A) the government has granted this agency a public franchise. B) stamps are copyrighted. C) stamps are trademarked. D) stamps are patented. E) it owns a vital resource, namely all mailboxes.
Suppose Always There Wireless serves 100 high-demand wireless consumers, who each have a monthly demand curve for wireless minutes of QdH = 200 - 100P, and 300 low-demand consumers, who each have a monthly demand curve for wireless minutes of QdL = 100 - 100P, where P is the per-minute price in dollars. The marginal cost is $0.25 per minute. Suppose Always There Wireless charges $0.30 per minute. How many minutes will low-demand consumers purchase?
A. 60 B. 30 D. 170
Assuming that dry cleaning is a normal good, an increase in consumer income, other things being equal, will:
a. increase the demand for dry cleaning. b. decrease the demand for dry cleaning. c. increase the quantity demanded of dry cleaning. d. decrease the quantity of dry cleaning demanded.
A rightward shift of a supply curve is called a(n)
a. increase in supply. b. decrease in supply. c. decrease in quantity supplied. d. increase in quantity supplied.