Movie theaters often charge different people different prices for admission. Why don't theaters charge different prices for popcorn and other food items?
A) It is difficult to limit the resale of food items from those who pay low prices to those who would have to pay high prices from the concession stand.
B) Once people are in the theater, concession stands have monopoly power and can charge everyone the same high prices for food.
C) Although the elasticity of demand for admission differs among customers, most people have the same the elasticity of demand for food items.
D) Concession stand personnel are too busy to ensure that different people pay different prices for food items.
A
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Refer to the figure below.________ inflation will eventually move the economy pictured in the diagram from short-run equilibrium at point ________ to long-run equilibrium at point ________, 
A. Rising; B; C B. Falling; A; C C. Falling; A; B D. Rising; A; C
Equilibrium in a perfectly competitive market results in the greatest amount of economic surplus, or total benefit to society, from the production of a good
Why, then, did Joseph Schumpeter argue that an economy may benefit more from firms that have market power than from firms that are perfectly competitive?
If you are using a 95% confidence interval and the absolute value of the t-statistic is larger than the critical value, then
A) we accept the null hypothesis at a 95% confidence level. B) we reject the null hypothesis at a 95% confidence level. C) we will be wrong less than 5% of the time if we accept the null hypothesis. D) we will be wrong 95% of the time if we reject the null hypothesis.
In a perfectly competitive industry, each firm
A. produces a differentiated product. B. engages in various forms of nonprice competition. C. can easily enter or exit the industry. D. determines its own price.