Price discrimination allows a monopolist to make higher profits.
Answer the following statement true (T) or false (F)
True
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The table above shows a production possibilities frontier for an economy. If the economy tried to produce a combination of 250 loaves of bread and 800 books,
A) there is some unemployment. B) it cannot produce this combination because it lacks enough resources or technology. C) it is enjoying a free lunch. D) the tradeoff between bread and books is inefficient. E) there is full employment.
Which of the following is true?
a. The production possibilities curve indicates that it will be impossible to expand total output with the passage of time. b. As long as resources are scarce, output cannot be increased. c. The size of the economic pie is fixed, and therefore, if one individual has more income, others must have less. d. Over time, the output of goods and services can be increased through human ingenuity and discovery of better ways of doing things.
Which of the following is the best example of land?
A. The water used to make a soft drink. B. A factory that produces new goods and services. C. The ethanol refined from corn. D. A barber's chair.
What does it mean when someone says that the U.S. dollar has depreciated or the U.S. dollar has appreciated? Give an example of each case using the euro and the U.S. dollar
Please provide the best answer for the statement.