Which of the following is not an example of derived demand?
a. Increased demand for corn when cornflakes become more popular.
b. Increased demand for iTunes music when sales of iPods increase.
c. Increased demand for hybrid automobiles when gas prices rise.
d. Decreased demand for movie tickets when ticket prices rise.
d
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A real option can present management with the opportunity to
A) vary output. B) abandon a project. C) postpone a project. D) All of the above
Second-degree price discrimination allows firms to do all of the following except which one?
A) sell more units B) earn less profit compared to charging the profit-maximizing price for all units C) receive a higher price of the first units sold D) change some of the consumer surplus into profit
"Common stock" is the type sold to small investors
a. True b. False Indicate whether the statement is true or false
"I'm not going to pay for the good if, once produced, the good cannot be denied to anyone." This statement is most relevant to
A) negative externalities. B) positive externalities C) private goods. D) nonexcludable public goods. E) the issue of rivalry versus nonrivalry in consumption.