Is the United States a command economy, a laissez-faire economy, or neither? Explain
What will be an ideal response?
The United States is neither a command economy nor a laissez-faire economy. It is more accurate to describe it as a mixed economy. The U.S. basically has a free market economy, but the government is a large purchaser of goods and services and also produces some goods and services as well. In addition, the U.S. economy has significant amounts of government regulation of business.
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Roxie's Movie Theatre has a monopoly and discovers that at $12 a movie, no one is buying movie tickets during weekdays. Roxie's conducts a survey and the table above reveals the results of the survey
Roxie decides to price discriminate between weekend and weekday moviegoers. The marginal cost of a showing a movie is $6. Roxie's charges ________ on weekdays and ________ on weekends. A) $9; $12 B) $6; $15 C) $6; $18 D) $3; $12
If a book publishing company sells its books to retailers with the explicit condition that the retailers may not resell the books below a specified price, this is an example of ________ and it ________ illegal per se.
A) resale price maintenance; is not B) price fixing; is not C) resale price maintenance; is D) price fixing; is
The marginal productivity principle has some relevance to organizing production in a socialist society
a. True b. False Indicate whether the statement is true or false
A tax on cigarettes:
A. increases total surplus. B. increases efficiency in the market. C. like any tax, will always reduce surplus and efficiency in markets. D. will increase both total surplus and efficiency in the market.