A monopolist who attempts to bundle her product with one that is produced and sold in a competitive market is likely to make a smaller profit than one who does not bundle his product with such a good
Indicate whether the statement is true or false
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If a competitive market operates perfectly, it relies on
A) the number of people buying goods. B) the laws of supply and demand. C) how much people are willing to pay for the products. D) how many products can be produced for sale.
Skilled labor commanded a higher wage than unskilled labor in both the U.S. and Europe between 1789 and 1860 . However, skilled wages in the U.S. were higher, on average. A higher land to labor ratio in the U.S
can explain the higher wage rates of skilled workers in the U.S. Indicate whether the statement is true or false
Which statement is true?
A. Employment discrimination plays virtually no role in determining the distribution of income. B. Training, education, and intelligence play a very large role in determining the distribution of income. C. In our society, it's basically who you know, rather than what you know that determines the distribution of income. D. None of these statements are true.
When the price of a good rises, the demand for its complements will tend to rise
Indicate whether the statement is true or false