Which of the following would not be illegal according to the Robinson-Patman Act
a. "Party Packers" getting 10cents off every pack of ribbon they buy after 1000 units
b. "Fred's Farms" offering 50 cents off a crate of strawberries to retailers to match other suppliers with similar rates
c. "Sam's Sandwiches" receiving 5 cents off per pound of cheese
d. All of the above
b
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Gasoline taxes that are typically used for highway construction and maintenance are consistent with which of the following principles of taxation?
A) the ability-to-pay principle B) the vertical-equity principle C) the horizontal-equity principle D) the benefits-received principle
Total physical product is maximized if marginal physical product is zero.
Answer the following statement true (T) or false (F)
Goods whose benefits to society are not diminished as more people consume them and whose benefits cannot be withheld from anyone are:
a. impossible since resources are limited. b. examples of negative externalities. c. public goods. d. food and other necessities. e. provided by free markets to free riders.
The law of increasing additional cost occurs when
A) there are always shortages in some goods. B) technology is not used. C) resources are not perfectly adaptable for alternative uses. D) there are always alternatives and it is costly to figure out which alternative is best.