When a monopolist practices price discrimination, consumer surplus tends to increase
a. True
b. False
Indicate whether the statement is true or false
False
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The economy's long-run AS curve assumes that wages and other resource prices ________.
A. are flexible upward but inflexible downward B. eventually rise and fall to match upward or downward changes in the price level C. rise and fall more rapidly than the price level D. are relatively inflexible both upward and downward
The sale of all alcoholic beverages is taxed in Budopia. If the demand for alcohol in Budopia is perfectly inelastic, how much of the tax burden will be borne by the consumers and why?
What will be an ideal response?
Which region has the highest proportion of its children working?
What will be an ideal response?
Is the firm a perfect competitor or an imperfect competitor? Explain.
