Some unemployment is unavoidable because ________.
A) many people in the working-age population attend school and are unemployed
B) people are making transitions through the stages of life and businesses are making transitions
C) often people become discouraged workers
D) there is always some cyclical unemployment
E) many part-time workers would like to have full-time work
B) people are making transitions through the stages of life and businesses are making transitions
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A major fruit juice manufacturer failed in its attempt to engage in price discrimination between students and all other consumers. What is a possible explanation for this failure?
a. There was nothing to prevent the students from reselling the fruit juice to other consumers. b. The fruit juice manufacturer produced in a perfectly competitive market. c. The two groups of consumers probably have the same demand elasticity for fruit juice. d. The cost of producing the product is relatively high. e. Demand for fruit juice is probably inelastic.
If a consumer is choosing the optimal combinations of two goods X and Y, and then the price of good Y decreases, this causes:
a. MU/P of good X to increase, so the consumer now must buy more X to find a new optimal combination. b. demand for good X to increase. c. MU/P of good Y to increase, so the consumer now must buy more Y to find a new optimal combination. d. MU/P of good Y to decrease, so the consumer now must buy more Y to find a new optimal combination. e. the demand for good X and good Y will not change.