What is resale price maintenance? Is resale price maintenance legal in the United States?
What will be an ideal response?
Resale price maintenance occurs when a manufacturer agrees with a distributor on the price at which the product will be resold. For instance, Sony could arrange with Best Buy the price for which Sony televisions are sold. Resale price maintenance (also called vertical price fixing) agreements are illegal under the Sherman Act. But it isn't illegal for a manufacturer to refuse to supply a retailer who doesn't accept guidance on what the price should be.
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The level of income below which the federal government classifies a family as poor is called the:
A. median income threshold. B. poverty threshold. C. absolute measure of poverty. D. relative measure of poverty.
A perfectly competitive firm's economic profit is maximized by producing the amount of output such that
A) total revenue equals total variable cost. B) marginal revenue equals marginal cost. C) total revenue equals total cost. D) marginal revenue is equal to total revenue.
Imogene needs to hire a skilled worker to do some very difficult analysis work for her company. When she interviews, she talks only to individuals who have a graduate degree. What is the purpose of Imogene’s use of the education signal?
a. to lower her costs in finding a worker b. to allow any interested party to know about the job c. to let people know she is highly educated d. to prevent the lemon problem from discouraging applicants
The current reference base period for the CPI is
What will be an ideal response?