If money income increases, a consumer's budget line
A) becomes flatter.
B) becomes steeper.
C) shifts rightward and its slope does not change.
D) shifts leftward and its slope does not change.
C
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Which of the following is an important difference between government and privately-owned enterprises?
A) Government can distribute goods without employing discriminatory rationing criteria. B) Government can more easily use negative incentives to obtain resources. C) Government does not produce exchangeable commodities or services. D) Government provides services at a lower opportunity cost. E) Government tends to pay close attention to the varying preferences of the people.
If a cigarette manufacturer sells its cigarettes to a distributor and contractually restricts the distributor from reselling the cigarettes outside the state of New York, this is an example of ________.
A) a tying arrangement B) territorial confinement C) a requirements contract D) exclusive dealing
Exhibit 9-8 Profit maximizing for a monopolist
?
As shown in Exhibit 9-8, if the monopolist produces the profit-maximizing output, total revenue is the rectangular area:
A. OQAP1. B. OQ2BP2. C. OQ3CP3. D. OQ2DP4.
By which of the following methods could a supplier identify its good as a plum to a skeptical buyer?
A. money-back guarantee B. warranties and repair guarantees C. a verbal assurance D. both money-back guarantee and warranties and repair guarantees