One could argue that price ceilings should not be placed on the goods sold at the high price "Quick Stop Shop" stores for all of the following reasons except:
a. cash price is not true price
b. convenience has a value
c. time has a value
d. the price of gasoline sold at the store is already controlled
e. check out is fast at the "Quick Stop Shop"
D
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The law of decreasing returns states that as a firm uses more of a
A) fixed input, with a given quantity of variable inputs, the marginal product of the fixed input eventually decreases. B) variable input, total output will increase indefinitely. C) variable input, with a given quantity of fixed inputs, the marginal product of the variable input eventually decreases. D) variable input, output will begin to fall immediately. E) fixed input and a variable input, the marginal product of the fixed input and the marginal product of the variable input both decrease.
Banks are most dominant in the financial markets of ________
A) Canada and Germany B) Germany and Japan C) Japan and the United States D) the United States and Canada