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The fact that roughly 70 percent of Americans are overweight speaks to the argument of behavioral economists that people lack complete ______.
a. appreciation for the present b. belief in traditional economics c. control over themselves d. knowledge of the market
If Samsung sells TVs at a higher price in the United States than in Korea, and if there is no cost difference in producing or transporting the TV sets, Samsung would be practicing
A. price discrimination. B. simple monopoly behavior. C. cartel pricing. D. price differentiation.
If the price elasticity of supply for a good is 0.75, then
A) the percentage change in the quantity supplied is less than the percentage change in price. B) the supply is elastic. C) an increase in the price boosts the quantity supplied by a larger percentage. D) the supply is inelastic so the demand must also be inelastic. E) None of the above answers is correct.
While short-run growth increases capacity, long-run growth increases capacity utilization.
Answer the following statement true (T) or false (F)