Economists consider economic depreciation to be the ________ in market value from the use of the capital and measure this use in terms of ________ cost.
A) increase; marginal
B) decrease; opportunity
C) increase; opportunity
D) decrease; marginal
B) decrease; opportunity
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What would be an example of economies of scope achieved in the automobile insurance industry?
What will be an ideal response?
Price discrimination is based on observable customer characteristics:
A. when a firm can distinguish consumers with a high versus low willingness to pay. B. when a firm offers a menu of alternatives, designed so that different customers will make different choices based on their willingness to pay. C. when a monopolist knows perfectly the customer's willingness to pay for each unit its sells and can charge a different price for each unit. D. in all cases.
Compared to First World countries, developing countries would have _____
a. a higher life expectancy b. higher productivity rates c. lower education levels d. lower birthrates e. a higher rate of private investment
Binding price floors benefit sellers because they allow sellers to sell all the goods they want at a higher price
a. True b. False Indicate whether the statement is true or false