An example of exclusive dealing occurs when
a. one individual serves on more than one board of directors
b. one individual serves on only one board of directors
c. a producer sells spark plugs to a car manufacturer with the understanding that the manufacturer will buy spark plugs only from that producer
d. the seller offers a good for sale to an individual (or a limited group) on substantially better terms than is available to the general public
e. a producer of spark plugs requires that customers also purchase rotors when they buy spark plugs
C
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The success of Walt Disney's animated film The Lion King in 1994 increased production of animated films, increasing the demand for animators much faster than the supply of animators was increasing
As a result, in the market for animators, the equilibrium wage fell and the equilibrium quantity increased. Indicate whether the statement is true or false
Utility measurements are:
A. a relative ranking of how much different people enjoy a particular good. B. used to compare one person's preference for a good to another person's preference. C. a relative ranking of the satisfaction a person gets from alternative combinations of things. D. None of these is true.
As the price level rises
a. people will want to buy more bonds, so the interest rate rises. b. people will want to buy fewer bonds, so the interest rate falls. c. people will want to buy more bonds, so the interest rate falls. d. people will want to buy fewer bonds, so the interest rate rises.
At an output level of zero, total cost is zero.
Answer the following statement true (T) or false (F)