About one out of every _______ whites is poor.
Fill in the blank(s) with the appropriate word(s).
12
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Many book publishers use cost-plus pricing to establish prices for some of their books
Would you expect a publishing company to use a strict cost-plus pricing system for all its books? How might you determine if a publishing company actually does use cost-plus pricing for all its books?
In a common-value setting
a. Oral auctions tend to return higher prices b. Sealed bid auctions tend to return higher prices c. Vickery auctions tend to return higher prices d. Rotating bid auctions tend to return higher prices
A production possibilities curve measures opportunity cost in dollar terms.
a. true b. false
Greg spends his entire budget on two goods: he plays video games at the mall arcade and he buys pizza. He discovers that his MU/P of video games is lower than his MU/P of pizza. From this, we know that he would be:
A. as happy as possible, since he is already maximizing total utility. B. happier eating less pizza and playing more video games. C. happier eating more pizza and playing fewer video games. D. indifferent to which selection he makes.