The Internet has made it possible to compare lots of prices without incurring a lot of cost. If Internet access is unequally distributed throughout the population one would expect
A) consumers with Internet access to pay a higher price.
B) consumers without Internet access to pay a lower price.
C) price discrimination against consumers without Internet access.
D) firms to charge the same price to all consumers.
C
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What will be an ideal response?
Identify the main reason to expect convergence in the long run
a. Low-productivity countries learning from high-productivity countries b. Rapid growth in the supply of capital in low-productivity countries c. Educational attainment rising quickly in low-productivity countries d. Economic complacency and mismanagement in high-productivity countries
Returns to scale is a ______ concept because ______.
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