Which of the following conditions must be TRUE so that a firm can price discriminate?
A) There are no other firms in the market.
B) The good is a nondurable.
C) The good cannot be easily resold.
D) All of the above.
C
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A large farming operation which uses a potent fertilizer is located up river from a trout farmer. If property rights of the river exist and transactions costs are low, the amount of pollution will be ________
A) efficient only if the trout farmer owns the river B) inefficient if the farming operation owns the river C) efficient if either the farming operation or the trout farmer own the river D) always inefficient
If more firms chose to pay efficiency wages, which of the following would shift to the right?
a. both the long-run Phillips curve and the long-run aggregate supply curve b. the long-run Phillips curve but not the long-run aggregate supply curve c. the long-run aggregate supply curve but not the long-run Phillips curve d. neither the long-run Phillips curve nor the long-run aggregate supply curve
Refer to Exhibit 2-9. For Adam, the opportunity cost of producing one unit of good A is ____________ unit(s) of good B.
 ANSWER 5.png)
Refer to the graphs below. Which one shows a situation where buyers are all willing to pay one uniform price for the product?
A. Graph A
B. Graph B
C. Graph C
D. Graph D