Which of the following is an example of customer discrimination?
a. European soccer players earn more than U.S. soccer players since soccer is more popular in Europe.
b. Male basketball players in the NBA earn higher salaries than female basketball players in the WNBA since viewers prefer watching NBA games.
c. Golfers on the men's PGA tour earn more than golfers on the women's LPGA tour since people prefer watching the men play golf.
d. All of the above are examples of customer discrimination.
d
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Starting at the top of a straight-line downward sloping demand curve, as the price falls, total expenditures will
A) initially increase and then decrease. B) initially decrease and then increase. C) increase along the entire demand curve. D) decrease along the entire demand curve.
In the above table, what is marginal product of labor for the 5th worker?
A) 10 B) 14 C) 9 D) 11.2
_____ transactions refer to the export and import of goods and services as well as any international earnings on investments, both public and private
a. Current account b. Capital account c. Official reserve account d. Savings account
If government officials break a natural monopoly up into several smaller firms, then
a. competition will force firms to attain economic profits rather than accounting profits. b. competition will force firms to produce surplus output, which drives up price. c. the average costs of production will increase. d. the average costs of production will decrease.