Which of the following statements is NOT compatible with explanations for why peak-load pricing is more profitable than charging a single price?
A) Consumer willingness to pay for the product varies a lot across different time periods.
B) Marginal cost of production is much higher under peak demand.
C) Marginal revenue changes a lot across different time periods.
D) Marginal revenue must be the same across different time periods.
D
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A good is path dependent when
A) it can only be used in one way. B) people who move location follow the path of people who moved before them. C) consumers get utility from consuming goods that others are consuming, such as restaurants. D) the first technology that was adopted has an advantage over a better technology that came later.
Which of the following is most likely to be a fixed cost for a business?
a. payment for raw materials used in manufacturing goods b. interest payments on a loan used to finance the construction of a building c. shipping charges for the delivery of products d. wages paid to temporary workers
The percentage of the federal debt owned by trust funds has
A. increased in good times and decreased in bad times. B. remained remarkably constant over the past 20 years. C. decreased consistently over the past 20 years. D. increased consistently over the past 20 years.
The size of the labor force depends on the size of the working-age population and the:
A. Participation rate B. Employment rate C. Unemployment rate D. Inflation rate