If all consumers are uninformed about the quality of a product
A) firms can increase product by selling the same product under a different name at a different price.
B) firms will not be able to price discriminate.
C) firms will price discriminate.
D) firms will increase profits by charging different prices for the same product.
B
Economics
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In general, a higher real wage rate decreases the quantity of labor supplied because fewer people enter the labor force
Indicate whether the statement is true or false
Economics
The following equations represent the demand and supply for bottles of nail polish
QD = 25 - P QS = -15 + 3P What is the equilibrium price (P) and quantity (Q - in thousands) of bottles of nail polish? A) P = $15; Q = 30 thousand B) P = $10; Q = 15 thousand C) P = $20; Q = 5 thousand D) P = $5; Q = 20 thousand
Economics