Recall the Application about price discrimination using refillable soda bottles to answer the following question(s).Recall the Application. Price discrimination using recyclable soda bottles will work only if:
A. some consumers will buy the soda only if given a discount.
B. all consumers are willing to buy the soda at the higher price.
C. all consumers will not buy the soda at the lower price.
D. the seller can only sell the refillable bottles for more than twice the cost of producing it.
Answer: A
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In the figure above, point A is undesirable because
A) there is an inefficient use of resources. B) too much health care is being produced. C) the opportunity costs of health care is too high. D) point E is a more realistic option in this economy.
Probably the best measure of a country's economic growth is the growth of
A) real domestic investment. B) real GDP. C) real GDP per person. D) real consumption expenditures.
At the Great Exhibition in London (1851), American products were a primary attraction because they were:
a. elegantly designed. b. very long lasting. c. cheap and functional. d. handmade by skilled artisans.
A devaluation of a currency means that the exchange rate (price of that currency) has changed to a lower fixed rate
a. True b. False