Externalities are failures of
A. the market to correctly price resources.
B. firms and consumers to make rational tradeoffs.
C. firms to make rational tradeoffs.
D. consumers to make rational tradeoffs.
Answer: A
Economics
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Price discrimination requires the firm to
a. separate customers according to their willingnesses to pay. b. differentiate between different units of its product. c. engage in arbitrage. d. use coupons.
Economics
Other things being equal, a labor union will find it harder to obtain a wage increase for its members the:
A. Less elastic is the demand for the product labor produces B. Easier it is to substitute other resources for labor C. Greater the amount of unionization in the industry D. Less elastic is the demand for labor
Economics