Price discrimination is welfare reducing
A) False, price discrimination can increase the coverage of a market thereby increasing welfare.
B) False, price discrimination limits the coverage of a market thereby increasing welfare.
C) True, price discrimination limits the coverage of a market thereby increasing welfare.
D) True, price discrimination can increase the coverage of a market thereby increasing welfare.
A
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An example of a price floor is a
A) rent control. B) minimum wage. C) subsidy. D) quota.
Explain what developed countries can do to respond constructively to the environmental damage being done in developing countries
What will be an ideal response?
Were the government to decree that henceforth all wages and other input prices are to be indexed to nominal aggregate demand, this ________ "coordination failure" of the macroeconomy and ________ business cycles
A) solves the, amplifies B) solves the, dampens C) creates a, amplifies D) creates a, dampens
Consider two situations: In situation A the production of widgets is monopolized by a single firm. In situation B the production of widgets is perfectly competitive. In both situations the supply of labor to widget makers is infinitely elastic at a wage of w. Which of the following statements is true?
a. The marginal value product of labor will be the same in the two cases. b. The marginal value product of labor is higher in case B than in case A. c. The marginal value product of labor is higher in case A than in case B. d. From the information given it is not possible to make a definite statement about the marginal value product of labor.