Which of the following is not an example of price discrimination?
a. Senior citizen discount at the movies
b. Grocery coupons
c. Shipping a package further costs more
d. Charging a higher price for ice-cream during the summer and a lower price in the winter
d
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A limit on the quantity of a good that may be imported in a given time period is called:
a. an embargo. b. a tariff. c. a quota. d. dumping.
When calculating price elasticity of demand, if the percentage change in price is negative, then the percentage change in quantity demanded is typically:
A. positive. B. negative. C. less than one. D. greater than one.
The marginal physical product is the
A. Change in total input required to produce one additional unit of output. B. Number of units of output obtained from all units of input employed. C. Additional cost of an additional unit of output. D. Change in total output associated with one additional unit of input.
The availability of health insurance tends to:
A. decrease the quantity of health care demanded and cause an underallocation of resources to the health care industry. B. increase the quantity of health care demanded and cause an underallocation of resources to the health care industry. C. increase the quantity of health care demanded and cause an overallocation of resources to the health care industry. D. decrease the quantity of health care demanded and cause an overallocation of resources to the health care industry.