The position of the? long-run aggregate supply curve is determined by
a. the production possibilities curve.
b. the interest rate effect.
c. the long-run aggregate demand curve.
d. the open economy effect.
Ans: a. the production possibilities curve.
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If a $50 subsidy is legally (statutorily) granted to the sellers of weed eaters and as a result the price of weed eaters to consumers falls by $30, the actual benefit of the subsidy
a. goes completely to buyers of weed eaters. b. goes completely to sellers of weed eaters. c. is $30 to buyers and $20 to sellers. d. is $20 to buyers and $30 to sellers.
Why might it be a bad idea to engage in first-degree price discrimination?
A. Price discrimination is illegal and can lead to lawsuits and lost customers. B. The information needed does not exist and scarce resources should not be used searching for it. C. Price discrimination in any form is not viable for most companies as a way to increase profits. D. The information needed can be costly and can lead to decreased profits for the company.