Establishing a list of favored customers is an alternative rationing mechanism to price rationing.
Answer the following statement true (T) or false (F)
True
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Suppose there are two types of consumers with two different demand curves, and the marginal cost of the monopoly is $10. What could be the possible price under two-part pricing that will maximize the monopoly profit?
A) $8 B) $9 C) $10 D) $12
If a significant portion of firms in the economy does not adjust product prices, a predicted result according to new Keynesian theory is
A) real inflation cycles. B) inflation dynamics. C) real business cycles. D) output dynamics.
Define the elasticity of supply and show how it is calculated
What will be an ideal response?
Suppose the cost of producing two goods, x and y, can be represented as C = ax + by + cxy. If there are diseconomies of scope, then which of the following must be TRUE?
A) a = b B) a + b = -c C) c > 0 D) c < 0