To the extent that customers can resell products to each other, the effectiveness of a price discrimination strategy will be undermined
Indicate whether the statement is true or false
TRUE
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The shoe leather costs of inflation include all of the following except:
A. the cost of more frequent trips to the bank. B. the installation of a new cash management system. C. the extra costs incurred to avoid holding cash. D. the lost purchasing power of cash.
Oil price hikes
A) decrease aggregate supply. B) decrease aggregate demand. C) increase aggregate supply. D) increase aggregate demand. E) increase potential GDP.
Kate and Alice are small-town ready-mix concrete duopolists. The market demand function is Qd = 20,000 - 200P, where P is the price of a cubic yard of concrete and Qd is the number of cubic yards demanded per year. Marginal cost is $80 per cubic yard. The Cournot model describes the competition in this market. What is Alice's marginal revenue function?
A. MR = 100 - 0.005QK - 0.01QA B. MR = 100 - 0.005QA - 0.005QK C. MR = 100 - 0.005QA - 0.01QK D. MR = 100 - 0.005QK - 0.005QA
If Harry's Blueberries, a perfectly competitive firm, shuts down in the short run, Harry must pay
a. variable cost but not fixed cost b. no costs at all c. variable cost and fixed cost d. only variable cost e. only fixed cost