The best example of a direct tax is a(n)
a. excise tax.
b. liquor tax.
c. sales tax.
d. income tax.
d. income tax.
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Which of the following is NOT necessary for a firm to engage in price discrimination?
A) The firm must be able to identify different types of buyers. B) The firm must be able to separate buyers by preventing resales from one customer to another. C) The firm must produce output for different buyers at different costs. D) The firm must sell a product that cannot be resold.
If the businesses last forever, then the Nash Equilibrium is
a. for one firm to charge a HP forever b. for your firm charge a LP when the other firm does c. for each firm to charge HP until the rival does, and then to charge a LP forever. d. for each firm to charge LP until the rival does, and then to charge a HP forever.