Which of the following is not a result of binding government price controls?
A) Some people win and some people lose.
B) Price controls benefit poor consumers but harm producers and wealthy consumers.
C) Price controls decrease economic efficiency.
D) A deadweight loss will occur.
Answer: B
Economics
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In the principal-agent relationship between a bank manager and a bank teller, the manager is
A) an agent, as is the teller. B) an agent and the teller is a principal. C) a principal and the teller is an agent. D) a principal, as is the teller.
Economics
Successful price discrimination cannot take place if
A) customers are not able to resell the product. B) the market is perfectly competitive. C) the demand curve facing the firm is downward sloping. D) the market can be segmented into different buyer groups.
Economics