All of the following might explain a firm offering quantity discounts except:
a. lower costs of handling large orders.
b. an inelastic demand for the good.
c. monopoly power in this market.
d. existence of some high and some low demand consumers.
b
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Whether or not people have identical tastes, the net value that the marginal user receives from a common property is
a. positive. b. zero. c. negative. d. uncertain.
Three possibilities have probabilities 0.4, 0.4 and 0.2 and values $10, $20, and $30 respectively. The expected value is:
a. $15 b. $16 c. $17 d. $18
A general mismatch between the skills of unemployed workers and the skills needed by employers with job openings results in
a. frictional unemployment. b. structural unemployment. c. cyclical unemployment. d. a higher labor force participation rate.
what happens when demand decreases and supply does not change
What will be an ideal response?