Assume that between 1999 and 2009 nominal GDP increased from $7 trillion to $12 trillion and that the GDP deflator rose from 100 to 150 . Which of the following expresses GDP for 2009 in terms of 1999 prices?

All other things unchanged, a tax on a product that leads to an increase in the cost of production would:

A) lead to an increase in supply. B) lead to a decrease in demand. C) result in an increased price. D) lead to a decrease in supply.

The text describes three different "degrees" of price discrimination

Of these, which one is theoretically capable of generating the greatest amount of economic profit for the firm? Why? In contrast, which one do you think has the greatest applicability to the range of goods and services consumers typically purchase?