Textbook publishers often sell the same or essentially identical books in different countries for different prices. Is this an effective form of group price discrimination?
A) Yes, because the first sale doctrine does not apply to overseas sales
B) No, because poor foreign students can't afford the books
C) No, because people are allowed to buy the books in one country and sell them in another, making money on the arbitrage opportunity
D) Yes, because the textbooks are actually different since they have a different cover and an "international" label on them
C
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A shift in the demand curve means which of the following?
a) a change in demand at every price b) a rise in prices c) a decrease in both price and quantity demanded d) a change in consumer income
A country will export wheat if, with no international trade, ______
A. it produces a surplus of wheat B. its opportunity cost of producing wheat is below the world price C. its domestic price of wheat exceeds the world price D. other countries have a shortage of wheat