Suppose a particular depository institution that specializes in residential mortgages is owned by its depositors. The institution is probably a:
A. savings bank.
B. money center bank.
C. community bank.
D. regional or super-regional bank.
Answer: A
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Joe's income is $500, the price of food (F, y-axis) is $2 per unit, and the price of shelter (S, x-axis) is $100. Which of the following represents his marginal rate of transformation of food for shelter?
A) -5 B) -50 C) -.02 D) None of the above.
"Cap-and-trade" programs:
A. create a market for pollution rights. B. use private bargaining to establish the optimal quantity of emissions. C. charge polluters an emission fee. D. are an example of a direct control.
Suppose a firm uses the following price strategy for every customer. The first two units purchased cost $4 each, and any extra unit costs $3.50. What kind of price discrimination is this?
A) First-degree price discrimination B) Group price discrimination. C) Non-uniform pricing. D) Uniform pricing.
What are some obstacles to price discrimination that a monopolist who is protected by high barriers to entry might face?
What will be an ideal response?