Perfect price discrimination is
A) realistic.
B) practiced by many firms.
C) a purely theoretical possibility.
D) very common.
C
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A decrease in aggregate demand in the economy will have what effect on macroeconomic equilibrium in the long run?
A) The price level will fall, and the level of GDP will be unaffected. B) The price level will rise, and the level of GDP will be unaffected. C) The price level will rise, and the level of GDP will fall. D) The price level will fall, and the level of GDP will fall.
A single-price monopoly is ______
A. inefficient because it converts consumer surplus to producer surplus B. inefficient because it produces too small an output and creates a deadweight loss C. efficient because buyers are paying a price equal to their willingness to pay D. efficient because it is the only producer of the good
Assume that an increase in Costa Rica's government budget deficit reduced desired national saving by 10 million colon. Assuming Costa Rica is a small open economy, you would expect the government's action to
A) increase the current account balance by exactly 10 million colon. B) increase the current account balance by less than 10 million colon. C) reduce the current account balance by exactly 10 million colon. D) reduce the current account balance by more than 10 million colon.
Consumers value the product-specific services for a new smartphone at $25 and the marginal cost to the retailers for providing the product-specific services is $20. If the retailers provide the product-specific services, which of the following is true?
A) The shift in the market demand will equal the shift in the market supply. B) The shift in the market demand will exceed the shift in the market supply. C) The shift in the market supply will be exactly double the shift in the market demand. D) The shift in the market supply will exceed the shift in the market demand.