A monopoly creates a deadweight loss to society because it earns both short-run and long-run positive economic profits
a. True
b. False
Indicate whether the statement is true or false
False
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Which of the following would NOT be considered price discrimination?
A. charging more money for long distance calls during business hours than on weekends B. giving students a discount on ski lift tickets C. charging higher rates for oil delivery to people who live farther from your business D. charging less money to wash a large luxury car than a small economy car
The see-through office building, and the boarded-up factory outlet mall may be attributed to
A) changing conditions which no longer justify the project for which the buildings were produced. B) deregulation of S & Ls. C) extreme business optimism. D) all of the above.
A price floor that is set above the equilibrium price
A) causes suppliers to lower their prices. B) is binding. C) is non-binding. D) creates a shortage.
Educational reforms that result in improved reading and math skills of high school graduates as they enter the labor force would do what to the aggregate supply curve?
A. Shift the curve outward. B. Shift the curve inward. C. Move the economy up along the curve. D. Move the economy down along the curve.