It is illegal for business to price discriminate when selling goods to other businesses unless
a. Price discounts are cost-justified
b. Discounts are offered to meet competitors' price
c. Both a and b
d. It is not illegal for businesses to price discriminate
c
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The short-run and long-run aggregate supply curves remain stable, and a decrease in aggregate demand occurs. What is the result in the short run?
A) A period of recession and a rise in the unemployment rate could occur. B) A period of expansion and a rise in the unemployment rate could occur. C) An increase in the price level and real GDP will occur. D) The price level will fall but real GDP will remain the same.
Property and casualty insurance companies are organized
A) both as stock and mutual companies. B) only as stock companies. C) only as mutual companies. D) primarily as cooperatives.
If an oligopolist cuts the prices of its products,
a. customers will switch to a rival firm. b. customers will remain unchanged in number. c. customers will switch from rival firms to buy from them. d. rival firms will not react.
The profit motive encourages businesses to produce the goods and services that consumers desire.
Answer the following statement true (T) or false (F)