An efficient customer sorting rule is one in which
a. customers with high willingness to pay secure the discounted goods
b. customers are rationed randomly between the discounted and full price goods
c. no customer purchase below her willingness to pay
d. customers with the lowest willingness to pay secure the discount goods
e. brand loyalty allows the incumbent to retain its regular customers
a
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Which of the following is most likely to be an inferior good?
A. rice B. designer coats C. ocean cruises D. steak
Which of the following statements about the FDIC is untrue? a. The FDIC helps prevent bank failures. b. The FDIC was created after the surge in bank failures in the 1980s. c. The FDIC is a government agency. d. The FDIC will reimburse depositors for their losses up to $100,000 per demand deposit account
e. The FDIC conducts bank audits and examinations.
A country could correct a balance-of-payments surplus by
A. Expansionary fiscal policy. B. Contractionary monetary policy. C. Decreasing the money supply. D. Increasing tariffs on imported goods.
Give an equation that shows the relationship between actual, required, and excess reserves.
What will be an ideal response?