Establishing different prices for similar products to reflect differences in marginal cost in providing those goods to different groups of buyers is
A) price discrimination.
B) cost-plus pricing.
C) price differentiation.
D) product differentiation.
C
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Because a third of government outlays are linked directly to the CPI, as time passes, the CPI bias means that the government's outlays are
A) larger than needed to keep pace with the cost of living. B) larger than needed to keep pace with the cost of living if the CPI is falling from one year to the next, otherwise the outlays are smaller than needed to keep pace with the cost of living. C) exactly equal to the changes in the cost of living. D) smaller than needed to keep pace with the cost of living. E) smaller than needed to keep pace with the cost of living if the CPI is falling from one year to the next, otherwise the outlays are larger than needed to keep pace with the cost of living.
The largest loss a profit-maximizing perfectly competitive firm can incur in the short run equals its
A) average variable cost multiplied by output. B) total fixed cost. C) marginal cost multiplied by the number of units produced. D) average total cost multiplied by the number of units produced. E) total variable cost.
What are the key differences between how we illustrate an expansionary fiscal policy in the basic aggregate demand and aggregate supply model and in the dynamic aggregate demand and aggregate supply model?
What will be an ideal response?
According to the neoclassical theory of distribution, the wages paid to workers depend on the
a. supply of labor. b. demand for labor. c. marginal productivity of labor. d. All of the above are correct.