When grocery stores issue special discount membership cards for shoppers effectively offering different prices based on quantities consumed, this is an example of
A) price discrimination.
B) price differentiation.
C) product differentiation.
D) patent protection.
A
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Because Jess didn't have the time to understand the issue, she did not vote on the amendment about clean energy. Jess's behavior demonstrates the economic principle of ________
A) diminishing marginal utility B) voting preferences C) rational ignorance D) minimum differentiation
Explain why firms in monopolistic competition have excess capacity in the long run
What will be an ideal response?
A one-year bond has an interest rate of 3% and is expected to fall to 2.5% next year and 2% in two years. The term premium for a two-year bond is 0.3% and for a three-year bond is 0.5%
What are the interest rates on a two-year bond and three-year bond according to the liquidity premium theory?
A firm should hire more labor when the marginal revenue product of labor
A) equals the wage rate. B) exceeds the wage rate. C) is less than the wage rate. D) Any of these can be true. E) None of these are true.