Promotional pricing would best be categorized as a form of:
A) first-degree price discrimination.
B) second-degree price discrimination.
C) third-degree price discrimination.
D) no price discrimination.
C
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If total government tax collections equal $100 billion, transfer payments equal $50 billion, and government interest payments equal $5 billion, then net taxes equal:
A. $105 billion. B. $45 billion. C. $55 billion. D. $155 billion.
As long as the firm illustrated above remains open, it will set a price of ________ per month and it will ________
A) $50; earn an economic profit B) $50; incur an economic loss C) $40; earn an economic profit D) $40; incur an economic loss E) less than $20; incur an economic loss
Which of the following demonstrates the endowment effect?
A) If you received a good as a gift, you are less likely to attach a monetary value to the good. B) Isabella was not willing to part with her "Chris Hemsworth" poster although she was offered $100 for it, a sum greater than what it costs to purchase another such poster. C) Chris Hemsworth commands a premium in the movie industry because he is endowed with dashing looks. D) Whelan inherits a cottage in Cape Cod from his grandfather and is unwilling to sell it for sentimental reasons.
Opportunity cost includes a. monetary costs only
b. non-monetary costs only. c. both monetary and non-monetary costs. d. neither monetary nor non-monetary costs.