The ________ states that in an ordinary election between two candidates, the candidates will position themselves in such a way that their platforms reflect the views of the voter in the middle
Fill in the blank(s) with correct word
median voter theorem
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Yield management and price discrimination have enabled firms to increase profits and, at the same time
A) reduce transactions costs. B) capture some consumer surplus. C) reduce the cost of production. D) transfer some producer surplus to consumers.
Consider a car dealership advertises a three-year lease at $250 per month. When you arrive to apply, you discover that the lease requires a downpayment of $3600 dollars. You will undertake the lease if
A) you value the lease at least $350 per month. B) you value the lease at least $250 per month, the $3600 is a sunk cost. C) you value the lease less than $350 per month. D) you value buying a new car at $400 per month.
If a monopolistically competitive firm can earn a profit, it will increase production until:
a. MR > AVC. b. MR = ATC. c. MC > MR. d. MR = AR. e. MR = MC.
Refer to the graph below. The slope of the line tangent to the curve at point B is:
A. 0.5
B. 3
C. 6
D. 2.0