For a firm that can effectively price discriminate, who will be charged a lower price?
A) buyers that are members of the smallest market segment
B) customers who have an elastic demand for the product
C) buyers that are members of the largest market segment
D) customers who have an inelastic demand for the product
B
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In the long run in a perfectly competitive market, economic profit or loss is
a. the main determinant of total cost b. the main driving force determining consumer preferences c. the basis of all government policy d. the main driving force behind economic change e. expected to persist indefinitely
Centralized decisionmaking is most commonly found in
A. emerging economies and industries. B. firms that are expanding into other geographical areas. C. highly vertically integrated firms. D. stable industrial environments.
According to structural stagnationists there is an argument to be made that the Fed should return to standard monetary policy.
Answer the following statement true (T) or false (F)
You have narrowed down your Friday night plans to either going bowling or playing billiards. If you choose to go bowling, then for you playing billiards is the ________ of going bowling.
A. opportunity cost B. empirical cost C. marginal cost D. variable cost