When firms price discriminate they turn ________ into ________
A) producer surplus, revenue
B) consumer surplus, profit
C) total cost, profit
D) producer surplus, consumer surplus
B
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An example of moral hazard is
a. people drive less carefully in icy conditions with antilock brakes as without b. people drive as safely with more airbags as without c. football players avoid 'spearing' with their heads even with safer helmets d. people read the medicine warnings as carefully when self-medicating versus with a doctor's prescription
Which of the following statements is correct, when the exchange rate changes from €2/$ to €1.5/$?
a. Both the euro and the dollar appreciate. b. Both the euro and the dollar depreciate. c. None of the above. d. The euro (€) depreciates. e. The euro appreciates and the dollar depreciates.
Public teacher layoffs, in most states, would be
A. among the worst teachers. B. last in, first out. C. first in, first out. D. among the best teachers.
Refer to Scenario 19.1 below to answer the question(s) that follow. SCENARIO 19.1: An individual earning $60,000 pays $12,000 in taxes. The marginal tax rate on any income earned above $60,000 is 25%. Refer to Scenario 19.1. Suppose this person earns $70,000 and gives a $1,000 tax deductible donation to charity. The donation reduces her tax payment by
A. $200. B. $207. C. $250. D. $1000.