Which of the following products allows the seller to identify different groups of consumers (segment the market) and practice price discrimination?
A) clothing items sold through Macy's Department Store
B) a cafe latte sold at Starbucks
C) tickets to matinee shows at a movie theatre
D) a hamburger sold at Burger King
C
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The value of marginal product of the tenth worker hired by a firm is $50. What is the maximum wage that should be paid to the worker?
A) $5 B) $500 C) $50 D) $0.20
Which of the following statements is CORRECT?
A) When both demand and supply increase, the quantity decreases and the price might rise, fall, or remain the same. B) When both demand and supply increase, the price rises and the quantity might increase, decrease, or remain the same. C) When both demand and supply decrease, the quantity increases and the price might rise, fall, or remain the same. D) When both demand and supply decrease, the quantity decreases and the price might rise, fall, or remain the same.
Patrick places his pocket change into his savings bank on his desk each evening. By his actions, Patrick indicates that he believes that money is a
A) medium of exchange. B) unit of account. C) store of value. D) unit of specialization.
Other things constant, an increase in the real interest rate will
a. cause consumers to reduce their purchases of durable items like appliances and automobiles. b. induce businesses to increase their level of investment. c. make borrowing money more attractive. d. increase the natural rate of unemployment.