Which of the following is an example of an ad valorem tax?
A) 5% of price.
B) 5% of quantity sold.
C) $0.50 per unit sold.
D) Government regulation.
A
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Limit pricing refers to
A) the fact that a monopoly firm always sets the highest price possible. B) how the price is determined in a kinked demand curve model of oligopoly. C) a situation in which a firm might lower its price to keep potential competitors from entering its market. D) none of the above.
What does a point inside the curve of a PPC indicate?
a. all resources are fully employed b. not all resources are fully employed c. employees are stealing d. workers have sabotaged machinery
Stagflation refers to a situation in which the economy is experiencing:
A. high economic growth and high inflation. B. low economic growth and high inflation. C. high economic growth and low inflation. D. low economic growth and low inflation.
A tie-in sale is when two firms merge together and are essentially tied together.
Answer the following statement true (T) or false (F)