A single-price monopoly
A) must practice price discrimination.
B) can lower its price for only a few select consumers if it wants to increase its sales.
C) will set its price equal to a consumer's willingness to pay.
D) must lower the price for all customers if it wants to increase its sales.
E) is able to raise its price as high as it wants and consumers must still buy from it because it is a monopoly.
D
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Refer to the scenario above. If the size of population is same in both the countries, at the steady-state equilibrium:
A) the GDP per capita of country A will be higher than that of country B. B) the GDP per capita will be the same in both countries. C) the capital stock will be the same in both countries. D) the GDP per capita of country B will be higher than that of country A.
After a permanent increase in the money supply
A) the exchange rate overshoots in the short run. B) the exchange rate overshoots in the long run. C) the exchange rate smoothly depreciates in the short run. D) the exchange rate smoothly appreciates in the short run. E) the exchange rate remains the same.
Suppose a heath care provider wants to ensure that its family doctors are offering patients referrals to specialists when appropriate. Offering referrals makes the doctors' work longer as they need to complete considerable paper work. Because the managers of the health care provider cannot monitor doctors during patient visits, the managers require that each doctor refers at least 40 percent of
their patients to a specialist each month or face a fine. If less than 40 percent of the patients actually need a referral to a specialist, this policy will result in all of the following occurring except which one? A) Patients who need to see a specialist and might not have otherwise received a referral are now likely to receive a referral. B) Doctors' time will be wasted completing unnecessary paper work. C) Patients who do not need to see a specialist will be referred to one. D) The doctor turnover rate at this health care provider should decrease.
According to the graph shown, if the price were $15, a:
A. shortage would exist, signaling sellers to raise their price.
B. shortage would exist, signaling buyers to leave the market.
C. surplus would exist, signaling sellers to drop their price.
D. surplus would exist, signaling buyers to bid up the price.
AACSB: Analytical Thinking