If Health Spas charges an annual membership fee of $1,000 for the use of their facilities and charges a $20 fee each time a member uses their facilities, this is an example of ________.
A) a single pricing scheme
B) two-part pricing
C) commodity bundling
D) an all-or-nothing offer
B) two-part pricing
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All else equal, if U.S. stocks are perceived to have become riskier compared to financial investments in other countries, then the market equilibrium value of the exchange rate for the U.S. dollar will:
A. fall. B. become fixed. C. be equal to the value chosen by the Federal Reserve. D. rise.
The three main sources of barriers to entry are monopoly resources, government regulation, and the firm's production process
a. True b. False Indicate whether the statement is true or false
Stock market fluctuations
a. often go hand in hand with fluctuations in the economy more broadly. b. rarely have anything to do with fluctuations in the economy more broadly. c. have few, if any, macroeconomic implications. d. are attributable to the widespread belief that the efficient markets hypothesis is correct.
Superstar professional athletes can sustain their economic rents because:
A. team owners will pay anything to win a championship. B. their opportunity costs of playing their sport are high. C. they are represented by highly-skilled agents. D. they have unique talents that they can sell to the highest bidder.