Which of the following is NOT a defining characteristic of perfectly competitive industries?
A) many buyers and sellers
B) unrestricted entry and exit
C) consumer knowledge about prices charged by each firm
D) higher prices being charged for certain name brands
D
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A price-discriminating firm charges the highest price to
A) the group with the least elastic demand. B) the group with demand that is unit elastic. C) the group with the largest demand. D) the group with the most elastic demand.
Refer to the above table. For which prices is demand inelastic?
A) in a range of prices below $6.00 B) in a range of prices above $6.00 C) in a range of prices between $5 and $1 D) in a range of prices above $9.00
When is debt financing most likely to harm future generations of Americans?
a. When the debt is held by domestic investors. b. Any time the debt is held by foreign investors. c. When the debt is held by foreign investors and the funds are channeled into productive investment projects. d. When the debt is held by foreign investors and the funds are used to finance either current consumption or unproductive investments.
If a competitive market were allowed and developed for human organs, then the price for organs would:
A. Increase and the quantity of organs available would decrease B. Decrease and the quantity of organs available would increase C. Increase and the quantity of organs available would increase D. Decrease and the quantity of organs available would decrease