Third-degree price discrimination occurs when:
A) different groups of consumers are charged different prices.
B) consumers are charged different prices at different points of time.
C) consumers are charged different prices according to their willingness to pay.
D) consumers are charged different prices based on the characteristics of their purchases.
A
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According to the text, which of the following statements BEST describes U.S. factor abundance in 1947?
a. Taking into account different labor productivities, the U.S. "effective" labor force was much larger than the "effective" labor force in the rest of the world. b. Taking into account different labor productivities, the U.S. '"effective" labor force was much smaller than the "effective" labor force in the rest of the world. c. Taking into account productivities of capital in different industries, the U.S. "effective" capital stock was much smaller than the '"effective" capital stock force in the rest of the world. d. Corrected data indicate that the United States was actually was a laborabundant and capitalpoor country in 1947.
What are supply shocks? Explain what effect adverse and favorable supply shocks have on the supply curve
What will be an ideal response?