The case on textbook publishers shows that
A) if imports are allowed, price discrimination is difficult or impossible.
B) if imports are allowed, price discrimination is possible.
C) publishers have a difficult time identifying the groups involved.
D) publishers should not migrate to electronic textbooks.
A
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An increase in net wealth will: a. increase consumption and saving at each level of income
b. increase saving and decrease consumption at each level of income. c. decrease consumption and saving at each level of income. d. increase consumption and decrease saving at each level of income. e. have no effect on consumption because consumption is a function of income.
We would expect unions to have a more difficult time negotiating higher wages for their members when
A) labor represents a small portion of total costs. B) the product produced makes up a small portion of families' budgets. C) the product produced has several close substitutes. D) there are not good substitutes for labor in the production process.