If Best Dogs only sells their hot dogs in packages of eight, all of the following are true except which one?
A) Best Dogs is using an all-or-nothing pricing scheme.
B) Best Dogs' customers are spending the consumer surplus they would have received on the first few hot dogs on the last few hot dogs.
C) Best Dogs has market power.
D) Best Dogs is trying to prevent arbitrage.
D) Best Dogs is trying to prevent arbitrage.
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What describes the graphical relationship between average product and marginal product?
A) Average product cuts marginal product from above, at the maximum point of marginal product. B) Average product cuts marginal product from below, at the maximum point of marginal product. C) Marginal product cuts average product from above, at the maximum point of average product. D) Marginal product cuts average product from below, at the maximum point of average product. E) Average and marginal product do not intersect.
On a secondary stock market, such as the New York Stock Exchange,
a. firms sell new issues of stock b. firms make initial public offerings c. previously issued bonds are sold and resold d. previously issued shares of corporations are sold and resold e. firms sell newly issued bonds