College students and faculty members have a more elastic demand than the general public for Apple's iMac desktop computers. From this we can conclude that
A) Apple will earn economic profits from the computers it sells to the general public but will break even on the computers it sells to college students and faculty members.
B) Apple will charge college students and faculty members lower prices than it charges the general public.
C) the general public will earn arbitrage profits by buying iMac desktop computers from Apple and reselling them to college students and faculty members.
D) Apple will charge college students and faculty members higher prices than it charges the general public.
B
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Which of the following can start an inflation?
A) an increase in aggregate demand B) an increase in aggregate supply C) a decrease in aggregate supply D) Both answers A and C are correct. E) Answers A, B, and C are correct.
Early efforts by states to regulate the railroads:
a. resulted in "Granger laws." b. resulted in laws that were initially supported by the railroads. c. outlawed product discrimination. d. allowed for higher charges on short haul freight.