Which of the following statements is true?
a.Perfect price discrimination can never lead to the most socially desirable level of output since it involves monopoly power.
b.Even though the pharmaceutical industry cannot stop other countries from selling lower price drugs to U.S. residents, the industry's efforts to price-discriminate are profitable.
c. Prestigious theaters that can sell tickets for operas for $500 should never sell tickets at $20 prices.
d. You should never tip a host in a restaurant in order to avoid a long wait.
a.Perfect price discrimination can never lead to the most socially desirable level of output since it involves monopoly power.
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Which of the following is true of successful price discriminators? a. They make greater profits than by charging everyone a uniform price
b. Their customers must have different willingness to pay. c. Their customers must have difficulty reselling the good to other customers. d. All of the above are true of successful price discriminators.
Which of the following might be an effect of advertising?
a. all of the following b. increased product differentiation c. increased total costs of production d. increased average total costs of production e. increased demand for the product
International specialization allows a country to use its resources to
a. create jobs for government workers by expanding international foreign aid programs b. produce special goods such as computer software that require specific knowledge c. expand the development of its natural resources such as lumber, oil deposits, and coal d. produce specific goods, allowing other countries to focus on the production of other goods e. develop political ties through international cooperation and mutual sharing of goods
Which has a greater impact on expanding aggregate demand?