The purpose of randomized pricing is to reduce:
A. both customer and competitor information about price.
B. competitor price information only.
C. the firm's pricing inflexibility.
D. consumer price information only.
Answer: A
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In a situation where an artist is selling his own work to the galleries, the principle is
a. The artist b. The gallery c. Both of the above d. None of the above
Which of the following resources is necessary to combine efficiently the other resources to produce goods and services?
a. natural resources b. capital c. labor d. entrepreneurial ability e. financial institutions
Which of the following is correct?
a. If the Fed purchases bonds in the open market, then the money supply curve shifts right. A change in the price level does not shift the money supply curve. b. If the Fed sells bonds in the open market, then the money supply curve shifts right. A change in the price level does not shift the money supply curve. c. If the Fed purchases bonds, then the money supply curve shifts right. An increase in the price level shifts the money supply curve right. d. If the Fed sells bonds, then the money supply curve shifts right. A decrease in the price level shifts the money supply curve right.
You are planning a graduation trip to Mexico. Other things the same, if the dollar appreciates relative to the peso, then
a. the dollar buys fewer pesos. Your hotel room in Mexico will require fewer dollars. b. the dollar buys fewer pesos. Your hotel room in Mexico will require more dollars. c. the dollar buys more pesos. Your hotel room in Mexico will require fewer dollars. d. the dollar buys more pesos. Your hotel room in Mexico will require more dollars.