The 1980s were a Lost Decade for Latin America
Indicate whether the statement is true or false
TRUE
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The figure below shows an individual's demand for items from a warehouse club. All of the people who shop at the warehouse club have the same demand. If the managers use two-part pricing, the membership fee (the access fee) is ________ and the price per item (the user fee) is ________ .
A) $80; $6 per unit
B) $60; $6 per unit
C) $40; $10 per unit
D) $20; $10 per unit
All of the following, except one, are sources of product differentiation. Which is the exception?
a. product quality b. location c. price d. consumer tastes e. buyers' perceptions
If a country made it easier for people to establish and prove the ownership of their property, real GDP per person would likely rise
a. True b. False Indicate whether the statement is true or false
Refer to the graph shown for a small country that is a price taker internationally.
Assume the foreign supply of this product is perfectly elastic at a price of $4 per unit. Starting from a free trade equilibrium, a tariff in the amount of $2 per unit would be expected to cause domestic production to:
A. increase from 2,400 to 7,400. B. decrease from 7,400 to 6,100. C. increase from 2,400 to 3,600. D. decrease from 4,800 to 3,600.