Higher prices
a. are always against the public interest.
b. may sometimes serve the public interest.
c. should never be allowed.
d. occur automatically for abundant goods.
b
Economics
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Edgar only consumes protein shakes with his income, I. The price of shakes is p
a. What is Edgar's demand equation for shakes? b. Can protein shakes be an inferior good for Edgar? Explain. c. What is the price elasticity of Edgar's demand for shakes? Derive using calculus. d. What is the income elasticity of Edgar's demand for shakes?
Economics
Under a profit-sharing compensation scheme, the manager will:
A. not shirk all day. B. optimize his choice between income and leisure. C. shirk all day. D. do the same thing as under a fixed salary scheme.
Economics