A firm practicing direct price discrimination will charge a higher price to
a. Consumers known to have an elastic demand
b. All consumers
c. Consumers known to have an inelastic demand
d. Consumers known to have a unitary elastic demand
c
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A trademark is: a. a method of production kept secret by the producing firm
b. a word, name, symbol, or device indicating the source of a good that can only be used by the firm that registered it. c. a government rule that gives an inventor the exclusive legal right to make, use, or sell an invention for a limited time. d. a body of law that protects the right of inventors to produce and sell their inventions.
A reduction in a country's rate of inflation should
A. increase its exports. B. lead to a negative trade balance. C. increase its imports. D. lead to an outflow of SDRs.
If there is an inflationary gap, then a 45-degree line exceeds the aggregate expenditure curve at the full-employment level of income.
Answer the following statement true (T) or false (F)
Refer to the data provided in Table 17.1 below to answer the following question(s). The table shows the relationship between income and utility for Jane.Table 17.1 IncomeTotal Utility $00$20,00025$40,00045$60,00060$80,00070Refer to Table 17.1. Suppose Jane has a 1/3 chance of becoming disabled in any given year. If she does become disabled, she will earn $0. If Jane does not become disabled, she will earn her usual salary of $60,000. Jane has the opportunity to purchase disability insurance for $20,000 which will pay her her full salary in the event she becomes disabled. Jane's utility per year with the policy is ________ and her expected utility without the policy is ________.
A. 60; 40 B. 45; 45 C. 20; 45 D. 45; 40