Even when two goods are perfect substitutes one can sell at a premium over the other depending on the tastes and preferences of the consumers
Indicate whether the statement is true or false
F
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In 2004, Jamal lost his job as a shipbuilder. His shipyard never reopened, and his very specialized skills as a shipbuilder were no longer in demand. Jamal's unemployment is best classified as _____
a. cyclical b. structural c. seasonal d. frictional e. voluntary
A person who works part-time is considered to be:
a. employed b. unemployed. c. out of the labor force. d. overemployed.
The marginal cost of serving an additional user of a public good is zero.
Answer the following statement true (T) or false (F)
Which of the following makes it more difficult for an incumbent to successfully engage in limit pricing?
A. Learning curve effects B. Commitment mechanisms C. A firm's past reputation for being tough on entrants D. Complete information