Which of the following is the primary source of high earnings in a market economy?
What will be an ideal response?
the ability to provide others with things that they value highly
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"If a natural monopoly is regulated using a marginal cost pricing rule, the firm makes zero economic profit." Is the previous statement correct or incorrect? Explain your answer
What will be an ideal response?
Second-degree price discrimination allows firms to do all of the following except which one?
A) sell more units B) earn less profit compared to charging the profit-maximizing price for all units C) receive a higher price of the first units sold D) change some of the consumer surplus into profit
Each of the following hurt the savings and loan industry in the 1980s, except
A. rising interest rates. B. rising real estate prices. C. the recession of 1981-82. D. the falling price of oil.
A permanent tax cut would likely ________ consumption spending ________ than would a tax rebate like the one issued in 2008
A) increase; more B) increase; less C) decrease; more D) decrease; less