Requirements tie-in-sale is
a. Where customers have to purchase all their products from one store in variable proportions
b. Where customer can mix and match products from different stores
c. Where two or more products are sold together in fixed proportions
d. Where you get discounts for buying in large quantities
a
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Refer to the above figure. The figure represents the saving function for the consumer. Point A represents
A) the point at which saving equals zero. B) a situation in which saving is positive. C) a situation in which saving is negative. D) the amount of autonomous consumption.
Suppose that real domestic output in an economy is 300 units, the quantity of inputs is 50, and the price of each input is $9. If productivity increased such that 400 units are now produced with the quantity of inputs still equal to 50, then per-unit production costs would:
A. increase and aggregate demand would decrease. B. decrease and aggregate demand would increase. C. decrease and aggregate supply would increase. D. decrease and aggregate supply would decrease.
For a firm to be economically efficient from society's point of view, it should produce to the point at which
A. marginal cost equals price. B. average total cost equals price. C. marginal cost equals marginal revenue. D. marginal cost equals average total cost.
Public goods represent ________ because by their very nature they are nonexcludable and nonrival which makes it difficult for the private sector to supply them profitably.
A. a market failure B. efficient production C. a negative externality D. a positive externality