When car dealerships post high prices for their cars and then negotiate deals based on their estimate of how much each person will pay,
a. the dealership will lose revenue
b. marginal revenue and marginal cost are being used to set prices and output
c. few dealerships will be able to survive
d. rent-seeking behavior will lead new dealerships to enter the market
e. this is a form of price discrimination
E
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"Economists assume people are selfish." Do you agree with this statement or not? Explain
What will be an ideal response?
Until about 1983, almost all of the U.S. national debt stemmed from
a. financing wars. b. bank failures. c. development assistance programs. d. tax cuts.
Which of the following is true?
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