Which of the following factors would be the most useful in determining the structure of a market?
a. the number of firms in the market
b. the price of the product sold in the market
c. the size of the physical structure
d. the geographical dispersion of the market
e. the age of the market
A
Economics
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If price discrimination occurs in a market
A) consumers whose demand for the product sold is more elastic pay higher prices than consumers whose demand is less elastic. B) the firm earns arbitrage profits. C) the marginal cost of production is constant. D) the law of one price does not hold.
Economics
Which fundamental economic question is most closely related to the issues of income distribution and poverty?
A. The What to Produce question. B. The Why to Produce question. C. The How to Produce question. D. The For Whom to Produce question.
Economics