Which of the following statements is true?
A) Employers are willing to forego profits when engaging in special interest group discrimination.
B) Employers are willing to forego profits when engaging in cultural discrimination.
C) Employers are willing to forego profits when engaging in statistical discrimination.
D) Employers are willing to forego profits when engaging in taste-based discrimination.
D
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In a tit for tat strategy players
a. Focus on maximizing your own profit b. Focus on minimizing the rivals profits c. Make their strategy difficult for competitors to understand d. All of the above
Which of the following statements is not correct?
A. If the relative change in price is greater than the relative change in the quantity demanded associated with it, demand is inelastic. B. In the range of prices in which demand is elastic, total revenue will diminish as price decreases. C. Total revenue will not change if price varies within a range where the elasticity coefficient is unity. D. Demand tends to be elastic at high prices and inelastic at low prices.