Would the shopkeeper be able to convince the customer that he would usher the customer out if he gets a low price?
a. Yes, such threats are always credible
b. No, because losing the sale is not in the shopkeeper's best interest
c. No, because he would get more by accommodating the low price than losing the sale
d. Both B&C
d
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Strict constructionism of the Constitution in the antebellum period
a. made federal funding of any project passing through several states illegal. b. held the federal government to only a few transportation projects. c. opened the door to federal domination of transportation projects. d. caused earlier federal plans of transportation expansion to be completed by a mix of state, local and private enterprise. e. Both b and d are correct.
An important difference between the GDP deflator and the consumer price index is that
a. the GDP deflator reflects the prices of goods and services bought by producers, whereas the consumer price index reflects the prices of goods and services bought by consumers. b. the GDP deflator reflects the prices of all final goods and services produced domestically, whereas the consumer price index reflects the prices of goods and services bought by consumers. c. the GDP deflator reflects the prices of all final goods and services produced by a nation's citizens, whereas the consumer price index reflects the prices of all final goods and services bought by consumers. d. the GDP deflator reflects the prices of all final goods and services bought by producers and consumers, whereas the consumer price index reflects the prices of all final goods and services bought by consumers.
A prediction from the kinked-demand curve model of noncollusive oligopoly is that, for an individual firm, small changes in:
A. demand will not lead to changes in price or output. B. marginal cost will not lead to changes in price or output. C. marginal revenue will lead to changes in price and output. D. marginal cost will lead to changes in price and output.
What type of economic policy did Mexico follow from the end of World War II until the 1980s? Describe the three-stage strategy that supporters of this policy emphasized. What was the outcome of these policies for Mexico's manufacturing sector?
What will be an ideal response?