What is a primary difference between rebates and coupons?
A) Coupons allow individuals to sort themselves into the high-elasticity group after the sale.
B) Neither coupons nor rebates are redeemed in high numbers.
C) Rebates allow individuals to sort themselves into the high-elasticity group after the sale.
D) Coupons are legal and rebates are illegal.
C
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Which of the following questions would a macroeconomist most likely try to answer?
A. What stage of the business cycle is our economy currently in? B. Why do Broadway musicals and airlines have different price discrimination strategies? C. How much would marijuana consumption change if the market became legal? D. Should the 5-Hour Energy firm increase its distribution from national to international?
Inflation that occurs when total spending is greater than the economy's ability to produce output at the existing price level is:
a. Unanticipated inflation b. Cost-push inflation c. Anticipated inflation d. Demand-pull inflation
A group of tasks performed by one person is a(n) _____.
A. position B. job C. family D. incumbent
Which of the following statements applies to a monopolist but not to a perfectly competitive firm at their profit-maximizing outputs?
A) Marginal revenue is less than price. B) Marginal revenue equals marginal cost. C) Price equals marginal cost. D) Average revenue equals average cost.