Tacos in a Box sells its hard shell tacos, taco seasoning, and taco sauce as a package and does not sell the individual products separately. This is an example of ________.
A) pure bundling
B) mixed bundling
C) an all-or-nothing offer
D) two-part pricing
A) pure bundling
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Suppose that the local health board discovers some unsanitary conditions at your favorite sushi restaurant. An economist would likely have what to say about this situation?
A) "All unsanitary conditions at this restaurant must be eliminated." B) "The restaurant owner obviously cares more about profits than about his customers." C) "No one should eat at this restaurant due to the potential health hazard." D) "Eliminating all of the unsanitary conditions might cost more than the value of the benefits that would be gained."
The mound-shaped yield curve in the figure above indicates that the inflation rate is expected to
A) remain constant in the near-term and fall later on. B) fall moderately in the near-term and rise later on. C) rise moderately in the near-term and fall later on. D) remain unchanged in the near-term and rise later on.
If Q represents a firm's level of output, W represents the wage paid to labor (L) and R is the cost of capital (K), then which of the following represents the firm's isocost line?
A. C = FC + VC(Q) B. C = FC(Q) + VC(Q) C. C = WL + RK D. C = (W + R)Q
A firm operating in a perfectly competitive industry will continue to operate in the short run but earn losses if the market price is less than that firm's average variable cost but greater than the firm's average fixed cost
a. True b. False Indicate whether the statement is true or false