Bob is the only carpet installer in a small isolated town. The above figure shows the demand curves of two distinct groups of customers-residential and business. Bob is likely to price discriminate because
A) elasticities differ across markets.
B) the installation of carpets cannot be resold.
C) Bob can probably identify which consumers belong to which segment.
D) All of the above.
D
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Hyperinflationary episodes are always related to extremely rapid growth of:
A) real GDP. B) money demand. C) interest rates. D) money supply.
The most frequently reported price index is ________
A) the consumer price index (CPI) B) the gross domestic product (GDP) deflator C) the personal consumption expenditure (PCE) deflator D) chain weighted GDP E) the interest income deflator
A monopolistic competitor's demand curve tends to be more inelastic than a monopolist's demand curve
a. True b. False Indicate whether the statement is true or false
During the past quarter of a century, which of the following has contributed to the economic growth of China?
a. agricultural reforms adopted in the late 1970s b. low taxes and deregulation in the special economic zones that were established during the 1980s c. the relaxation of restraints on foreign trade and joint ventures d. all of the above