Rising prices help control the process of resource depletion by
a. discouraging consumption and waste.
b. stimulating more efficient use of the depletable resource.
c. encouraging resource-saving innovation.
d. doing all of the above.
d
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Some firms practice odd pricing because
A) it is a way to price discriminate. B) it is too difficult for sellers to reeducate buyers into accepting even prices. C) it lowers transactions costs. D) they believe that customers will buy a larger quantity with an odd price.
Owner-provided capital and owner-provided labor are examples of
A) explicit costs. B) implicit costs. C) normal rate of return. D) accounting costs.
Although coal and iron ore are both important raw materials used in steel production, coal is a more specific resource compared to iron ore
Indicate whether the statement is true or false
The unemployed who quit their jobs, were fired for cause, or just entered the labor force are eligible for unemployment insurance
a. True b. False Indicate whether the statement is true or false