Which would definitely not be an example of price discrimination?
A. Universities charge higher tuition for out-of-state residents.
B. An electric power company charges less for electricity used during hours when production costs are lower.
C. A doctor charges for services according to the income of patients.
D. A theater charges children less than adults for a movie.
Answer: B
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Why does scarcity lead to the what, how, and for whom questions?
What will be an ideal response?
Which of the following exempliflies altruism?
a. A teacher conducting night classes for working professionals. b. A lawyer defending a juvenile client who is accused of murder. c. A person on his way to work stopping to help accident victims on the road. d. Government imposing a high sales tax on liquor.
An economy in which output has decreased and prices have increased would suggest that there has been a:
A. negative demand side shock. B. negative supply side shock. C. positive demand side shock. D. positive supply side shock.
Which of the following is not a barrier to entry?
A. Government regulation. B. Control of essential factors of production. C. Homogeneous Products. D. Economies of scale.