When a firm practices price discrimination, for each separate set of consumers it will determine the rate of output at which
A) MR > MC.
B) MR = P.
C) MR = AVC.
D) MR = MC.
D
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The? special-interest theory of government suggests a government will approve an inefficient project if the costs of the project are paid by a large number of citizens and the benefits go to a small number of citizens.
The? special-interest theory of government suggests a government will approve an inefficient project if the costs of the project are paid by a
number of citizens and the benefits go to a
number of citizens.
If the price elasticity of demand coefficient equals 2 then:
A. a 7 percent decrease in the price will result in a 14 percent decrease in the quantity demanded. B. a price decrease will increase total revenue. C. the good has an inelastic demand. D. there is likely few substitutes, a short time period under consideration, or this good accounts for a relatively small percentage of consumers' budgets.
“Economists are scientists and therefore should not become involved in making value judgments which policy formulation necessarily entails.” Do you agree?
Please provide the best answer for the statement.
Each of the following is a requirement of a gold standard except
A. a nation defines its currency in terms of gold. B. a nation must maintain a fixed ratio between its gold stock and its money supply. C. a nation must maintain a constant average price level. D. there must be no barriers to the free flow of gold into and out of the country.