Which of the following is NOT a necessary condition for a firm to price discriminate?
A) The firm must be able to separate markets.
B) Buyers in different markets must have different elasticities of demand.
C) Resale of the product must be preventable.
D) The firm must be a price-taker.
Answer: D
Economics
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Which of the following does NOT occur when the economy is operating at the equilibrium level of GDP?
A) Total planned expenditures equal real GDP. B) Planned investment equals actual investment. C) Inventory investment equals zero. D) Real GDP tends to rise over time.
Economics
The quantity theory of money seeks to explain the connection between money and
A) output. B) unemployment. C) prices. D) interest rates.
Economics