According to the Application, the cultural habits of the rich filtered down through English society. These habits included all of the following virtues EXCEPT
A) impulsive behavior. B) thrift.
C) prudence. D) hard work.
A
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Answer the following statements true (T) or false (F)
1) It is not possible for a single firm to combine different types of nonlinear pricing. 2) In order to practice any of the advanced pricing techniques, a firm must have some market power. 3) If a firm offers a quantity discount, this is an example of an all-or-nothing offer. 4) If Healthy Bars labels its snack bars "not for resale", Healthy Bars is attempting to prevent arbitrage. 5) If a firm faces a high demand during the summer months and a low demand during the winter months, peak-load pricing can increase the firm's profits compared to charging the same price in the summer and winter months.
Average Fixed Cost is the
a. horizontal distance (at any particular cost level) between ATC and AVC b. vertical distance (at any particular quantity) between ATC and AVC c. vertical distance (at any particular quantity) between ATC and the horizontal axis d. vertical distance (at any particular quantity) between AVC and the horizontal axis e. horizontal distance (at any particular cost level) between ATC and the vertical axis
It is possible to purchase diplomas from diploma mills. The situation in which the degrees are more important than the knowledge they are supposed to represent is called:
A. accreditation. B. credentialism. C. cretinism. D. diplomacy.
Does a tax on buyers affect the supply curve?
A. Yes, it shifts to the right by the amount of the tax. B. Yes, it shifts to the left by the amount of the tax. C. Yes, it shifts up by the amount of the tax. D. No, there is change in the quantity supplied, but the supply curve does not move.