In the problem of double marginalization, the resulting price is higher than if
a. The manufacturer were to sell directly to the consumer
b. The manufacturer and the retailer were to merge
c. All of the above
d. None of the above
c
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Prices under an ideal cartel situation will be equal to
A) monopoly prices. B) competitive prices. C) prices under monopolistic competition. D) marginal cost.
In comparing accounting profit with economic profit, we generally find that
A. accounting profit is less than economic profit. B. economic profit exceeds accounting profit by the amount of opportunity costs. C. economic profit and accounting profit are the same in the short run. D. accounting profit is greater than economic profit.
What is the approach that the U.S. Census Bureau uses to estimate the number of illegal immigrants living in the United States? How many illegal immigrants were estimated to reside in the United States in 2009?
What will be an ideal response?
Local government expenditures depend on which taxes?
A) revenues from licenses and permits B) local property, sales, and excise taxes C) capital gains taxes D) Social Security taxes