A rational pricing strategy for a profit-maximizing monopolist is
a. price discrimination.
b. price segregation.
c. synergy pricing.
d. average cost pricing.
a
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Which of the following would shift the supply curve for MP3 players to the right?
A) a decrease in the number of firms that produce MP3 players B) an increase in the price of a substitute in production C) a decrease in the price of an input used to produce MP3 players D) an increase in consumer income (assuming that all MP3 players are normal goods)
In markets-oriented systems, handling of the manager-stockholder conflict in large firms is through
A) rating agencies. B) the potential for takeovers. C) management ownership of the firm. D) bank ownership of the firm.
You purchase a bag of chocolate chips for $3, a bag of flour for $1, a bag of sugar for $.50, a half dozen eggs for $.50, and a half pound of butter for $2. You use all these ingredients to make three dozen cookies. Your roommate offers you $15 for them, and you happily accept. How much does this process contribute to GDP?
A. $7 B. $15 C. $22 D. $8
The experience of the Teamsters in the late 1970s and early 1980s suggests that
a. there are few restraints on the ability of a strong union to increase the wages of its members. b. product market competition with goods made from (or services provided by) nonunion labor significantly limits the ability of a union to get increased wages for its members. c. higher wages tend to stimulate aggregate demand, which makes it easier for a union to gain still higher wages. d. wages are established by the relative skill of union and management negotiators, independent of market conditions.