Suppose Mariana purchases the needed land fromAbe,Ben,Cat,and Don for the value she calculated the land to beworth,but Eva refuses to sell the land for the same price as the other 4 ranchers. Economists wold refer to Eva as a
Ans: holdout
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Refer to the scenario above. Alex should place a bid of ________
A) $187.50 B) $200.50 C) $225 D) $250
Prior to the advent of MCI (later named Worldcom) the telecommunications industry largely relied on one kind of technology – the copper wire
Why do you suppose that the use of microwave technology employed by MCI offered an important challenge to the principle of natural monopoly that existed at the time justifying the reliance on one company – AT&T.
When a tax is placed on the buyers of a product, the
a. size of the market decreases. b. effective price received by sellers decreases, and the price paid by buyers increases. c. demand for the product decreases. d. All of the above are correct.
Why is a discounted airline fare a price discrimination that can be offered?
(A) Because people who fly on business want the price discounts but do not qualify. (B) Because senior citizens qualify for discounts on certain types of flights but not on others. (C) Because people do not necessarily want to go where the discounts will allow them to go. (D) Because vacationers are willing to put up with the restrictions that the airlines impose.