The costs in time and other resources that parties incur in the process of agreeing to and carrying out an exchange of goods or services are called
A) selling costs. B) exchange costs. C) transactions costs. D) implicit costs.
C
Economics
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When the expected inflation rate ________, the short-run Phillips curve ________
A) rises; shifts downward B) falls; shifts upward C) rises; shifts upward D) falls; does not shift E) rises; might shift upward or downward depending on how the long-run Phillips curve shifts
Economics
Based on the graphs showing price discrimination in movie ticket prices, an elastic demand curve prompts theatres to ______.
a. charge higher prices
b. charge lower prices
c. go bankrupt
d. add more seats
Economics