If the groups are equal size and the firm can only set one price, how should the firm price the high-end wok?

a. Price low and sell to both the users
b. Price high and sell only to the professional chefs
c. Price low and sell only to the home users
d. All of the above


a

Economics

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Human capital is

A. the factories and machinery made by workers. B. the talents, training, and education of workers. C. the financial resources available to humans for investment. D. the factories and machinery used by humans in the production process.

Economics

If economic recovery has already occurred by the time the effects of expansionary monetary policy are felt, it could cause an inflation problem rather than curing a recession problem

a. True b. False Indicate whether the statement is true or false

Economics

In New York City, you need a license to drive a taxicab. Each license is valid for three years, and then it expires. The holder of a license can expect to earn $10,000 in profit each year. If the interest rate is 5 percent (0.05) per year, what is the value of a newly issued taxicab license? (Assume that each year's profit is received at the end of the year.)

a. $1,990.74 b. $10,000.00 c. $14,074.07 d. $27,232.48 e. $30,000.00

Economics

The implicit rate of return that must be paid to induce investors to continue to supply the funds necessary to maintain a firm's capital assets is called

a. the investors' rate of return. b. the opportunity cost of labor. c. the opportunity cost of capital. d. equity capital.

Economics