Which of the following observations concerning price discrimination is true?
a. It only occurs in monopolies.
b. It is easier for a monopolist than for a firm that is affected by competition.
c. It means that sales to all customers are equally profitable.
d. It is considered as a bad business practice under all circumstance.
b
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Frictional unemployment is the result of
A) the economy entering a strong expansion. B) normal labor market turnover. C) a slowdown in the rate of economic expansion. D) changes in the weather. E) technological change or foreign competition.
The change in total costs when output changes is called
A) average variable costs. B) marginal product. C) average total cost. D) marginal cost.
Prices set too low can actually be against the public interest
a. True b. False Indicate whether the statement is true or false
The marginal propensity to consume can be found by dividing
A. Disposable income by total consumption. B. The change in total consumption by the change in disposable income. C. Total consumption by total saving. D. Total consumption by the number of people consuming.