The problem of "double marginalization" is
a. The retail price being too low due to an exclusion of both manufacturer and retailer markup
b. The retail price being too high due to an inclusion of manufacturer markup
c. The retail price being too high due to an inclusion of both manufacturer and retailer markup
d. The retail price being too high due to an exclusion of retailer markup
c
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Refer to the table above. The farmer began to experience diminishing returns after applying how many bags of fertilizer?
A) 1 B) 2 C) 3 D) 4
The price is likely to be quite stable in the godfather model because
a. the market functions like a cartel b. the other firms in the industry have cost advantages over the godfather c. the godfather could decrease price below levels that other firms could afford d. entry into the market is easy e. all firms are maximizing profit anyway
What is a monopoly? Can a firm be a monopoly if close substitutes for its product exists?
What will be an ideal response?
A person who chooses ________ the labor force reveals that either leisure or the value of nonpaid labor is worth ________ to him or her than the value that society places on his or her potential product in the market.
A. to stay in; more B. not to be in; more C. to enter; more D. to exit; less