Fast Technology sells its computers and monitors separately, but also sells them as a package. This is an example of ________.
A) mixed bundling
B) two-part pricing
C) an all-or-nothing offer
D) pure bundling
A) mixed bundling
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In 2014, global revenue for IBM was ________ when measured in local currencies than it was when measured in dollars. This occurred because the value of the U.S. dollar ________ relative to most other currencies
A) lower; increased B) higher; increased C) higher; decreased D) lower; decreased
In a world of perfect information, if consumers could costlessly contract with private contractors to produce a good and there were no economies of scale,
a. firms would be unnecessary b. markets would be unnecessary c. consumers would be unnecessary d. consumers would face greater production costs e. firms would be more efficient than the market
Suppose the real wage remains unchanged between Year 1 and Year 2 but the nominal wage increases from $20 to $24 . Based on this information, we can conclude that the price level has: a. increased by 20 percent. b. increased by 25 percent. c. remained unchanged
d. decreased by 10 percent. e. decreased by 20 percent.
When a firm experiences continually declining average total costs,
a. the firm is a price taker. b. society is better served by having one firm supply the product. c. the firm will earn higher profits than if average total costs are increasing. d. All of the above are correct.