Since about 1980,
a. production worker pay in the U.S. has grown faster than CEO pay
b. the typical U.S. CEO has come to earn more than the typical NBA basketball player
c. CEO pay in Europe has grown much faster than CEO pay in the U.S.
d. CEO pay in the U.S. has grown to a very large multiple of production worker pay
e. the ratio of CEO pay to production worker pay in the U.S. has not changed much, although both groups receive much high pay now
D
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____ is a new product pricing strategy which results in a high initial product price. This price is reduced over time as demand at the higher price is satisfied
a. Prestige pricing b. Price lining c. Skimming d. Incremental pricing e. None of the above
The supply of product X is perfectly inelastic if the price of X rises by:
A. 5 percent and quantity supplied rises by 7 percent. B. 8 percent and quantity supplied rises by 8 percent. C. 10 percent and quantity supplied stays the same. D. 7 percent and quantity supplied rises by 5 percent.