Which of the following sellers is most able to perfectly price discriminate?
A) a college or university
B) the post office
C) a clothing store
D) a grocery supermarket
A
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Greater entrepreneurship in the economy will shift the aggregate:
a. supply curve rightward. b. supply curve leftward. c. demand curve rightward. d. demand curve leftward.
The efficient scale of the firm is the quantity of output that
a. maximizes marginal product. b. maximizes profit. c. minimizes average total cost. d. minimizes average variable cost.
In the late 1990s, Thailand, Malaysia, and Indonesia all experienced sharp declines in the value of their currencies; this resulted in economic instability and crisis. The collapse in the values of their currencies undermined their development by:
A. decreasing political instability. B. decreasing population growth. C. increasing corruption. D. reducing investment.
Purchasing power parity:
A. allows us to compare the cost of living across different locations. B. is the theory that purchasing power in different countries should be the same when stated in local currencies. C. almost always holds in reality. D. All of these statements are true.