The political market place requires all EXCEPT
A) diplomats.
B) firms.
C) voters.
D) politicians.
A
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Why might it be a bad idea to engage in first-degree price discrimination?
A. Price discrimination is illegal and can lead to lawsuits and lost customers. B. The information needed does not exist and scarce resources should not be used searching for it. C. Price discrimination in any form is not viable for most companies as a way to increase profits. D. The information needed can be costly and can lead to decreased profits for the company.
Refer to Table 1-3. What is Santiago's marginal cost if he decides to stay open for an extra two hours instead of one hour?
A) $18 B) $36 C) $38 D) $102
Tradable allowances are like taxes in that they both:
A. impose a quota on output. B. maximize surplus. C. are not efficient. D. None of these statements is true.
With free entry
A) economic profits are possible over the long run. B) economic profits are possible but only over limited amounts of time. C) economic profits are not possible. D) the cost of capital will not be covered.