If Best Dogs sells its hot dogs only in packages of eight, this is an example of ________.
A) an all-or-nothing offer
B) linear pricing
C) two-part pricing
D) commodity bundling
A) an all-or-nothing offer
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In the United States, a little more than half the electorate will turn out to vote in:
a. local elections. b. state elections. c. judicial elections. d. presidential elections.
In a market with perfectly competitive firms, the market demand curve is usually ____ and the demand curve facing each individual firm ____
a. upward sloping; horizontal b. downward sloping; horizontal c. horizontal; downward sloping d. downward sloping; downward sloping
If those who consumed common resources were subject to a tax that was equal to the external costs that they imposed due to the negative externality created:
A. individuals would consume less. B. total surplus would be maximized for the whole society. C. an efficient level would be reached. D. All of these statements are true.
The World View article in the text titled "Income Share of the Rich" reports, "In poor, developing countries the richest tenth of the population typically gets 40 to 50 percent of all income." Which of the following is a form of government intervention designed to change this situation?
A. Spillover costs. B. Rich nations opening up their domestic markets to exports from poor nations. C. Antitrust laws. D. Laissez faire.