Automobiles create externalities because they are expensive and not everyone can afford the car they want.
Answer the following statement true (T) or false (F)
False
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When the price of a product exceeds the marginal cost of producing it, producers have a
A) consumer surplus. B) producer surplus. C) consumer shortage. D) producer shortage. E) deadweight surplus.
Suppose that a small economy that had previously been closed becomes open. If its real interest rate had previously been below the world real interest rate, we would expect that
A) the country's real interest rate would remain below the world level. B) the country would become a net lender abroad. C) the country would become a new borrower abroad. D) the amount of loanable funds supplied in the country would decline.
Fast Food Terminals III After firing cashiers to install touchscreens for patrons to place orders, Taco Casa determined that their average cost per touchscreen order was $0.65 . After determining that the average compensation cost per human mediated order was $0.60 per order, they revert back to human order takers. Then why did the realized average cost per order with humans come in at $0.70?
Price discrimination exists when a firm sells the same good at __________________ to different groups of customers.
a. more than two prices b. more than three prices c. the same price d. more than one price