The chairman of its Board of Governors is appointed by the president; the Fed operates without independence from the executive branch of the government

A pricing strategy that requires consumers pay an up-front fee plus an additional fee for each unit of product purchased is a

A) tying contract. B) two-part tariff. C) form of perfect price discrimination. D) none of these.

Use the information in Scenario 4.2. What is the price elasticity of demand if the price of artichokes is $10?

A) 0 B) -0.25 C) -1 D) -4 E) negative infinity