Which would definitely not be an example of price discrimination?
A. A theater charges children less than adults for a movie
B. Universities charge higher tuition for out-of-state residents
C. A doctor charges for services according to the income of patients
D. An electric power company charges less for electricity used during off-peak hours when production costs are lower
D. An electric power company charges less for electricity used during off-peak hours when production costs are lower
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A bilateral monopoly is characterized by a market with a single buyer and a single seller. Which factor is most likely to determine the market outcome in this situation?
A) Share of total costs that are fixed B) Degree of demand elasticity C) Degree of supply elasticity D) Bargaining power of the firms
When a manager's bonuses are tied to multiple unrelated performance measures
a. we typically see the manager miss all goals by about the same amount b. we typically see the manager greatly exceeding some goals while missing others altogether c. we typically see the manager just meeting some goals while missing others by a wide margin d. we typically see the manager indifferent to the goals
Suppose that initially there is no public debt. Using the above table, what is the public debt as a percentage of GDP in 2017?
A. 0.5 percent B. 8.0 percent C. 3.6 percent D. 2.0 percent
Which of the following describes a situation in which a good or service is produced at the lowest possible cost?
A) productive efficiency B) allocative efficiency C) marginal efficiency D) profit maximization