Elmo's gas station in El Paso only sells gasoline if customers also purchase its car wash service
A) This is called a tie-in sale and is in violation of antitrust laws.
B) This is not in violation of antitrust laws, as cars need both gasoline and car wash.
C) This is not in violation of antitrust laws, as consumers get the gasoline below market prices.
D) This is in violation of the Robinson-Patman Act.
Answer: A
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Laura's Pizza Place incurs $800,000 per year in explicit costs and $100,000 in implicit costs. The restaurant earns $1.3 million in revenues and has $5 million in net worth
Based on this information, what is the economic profit for Laura's Pizza Place? A) $200,000 B) $400,000 C) $500,000 D) $2.8 million
Lending abroad represents:
A) a capital outflow. B) a capital inflow. C) positive net savings. D) none of the above.
Which of the following combinations is plausible for a nation's balance of payments? (All numbers in billions.)
A) current account = 10, capital account = 40, official reserve transaction account = 50 B) current account = 40, capital account = 20, official reserve transaction account = -50 C) current account = 50, capital account = -30, official reserve transaction account = 20 D) current account = 30, capital account = -20, official reserve transaction account = -10
Exhibit 3-8 Demand and Supply Data for Video Games ? Price Quantity Demanded of Video Games Quantity Supplied of Video Games $75 400 900 70 450 850 65 500 800 60 550 750 55 600 700 50 650 650 45 700 600 40 750 550 ? In Exhibit 3-8, if the price of video games was currently $45, there would be an ____________ of ______________ video games in this market.
A. excess demand; 700 B. excess demand; 100 C. excess supply; 100 D. excess supply; 600