When a firm charges $4.95 instead of $5.00, what do economists call this pricing strategy?
A) indirect pricing B) cost-plus pricing C) odd pricing D) unusual pricing
C
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Takeovers and takeover attempts waste valuable capital.
Answer the following statement true (T) or false (F)
When a firm sells a given product at more than one price and the price difference is NOT caused by differences in cost then there is
A. price delineation. B. price discrimination. C. price demarcation. D. price differentiation.
The "macroeconomics" rebuttal to the traditional analysis of the minimum wage argues that
A. people work harder when they feel they are inadequately compensated, therefore an increase in the minimum wage may actually lower productivity. B. in the short-run, the demand elasticity of labor is such that businesses will actually increase the number of workers hired when the minimum wage increases. C. the rich consume more than the poor out of extra income, therefore an increase in the minimum wage increases aggregate demand. D. the rich consume less than the poor out of extra income, therefore an increase in the minimum wage increases aggregate demand.
A short-run equilibrium occurs
A) at the intersection of the short-run aggregate supply curve and the aggregate demand curve. B) at the real GDP associated with full employment. C) at the intersection of the short-run aggregate supply curve and the long-run aggregate supply curve. D) at the intersection of the long-run aggregate supply curve and the aggregate demand curve.