As the price of cell phones fell during the last decade, consumers' total expenditures on cell phones increased. If the demand curve for cell phones did not shift, this fact means that the demand for cell phones
A) must have shifted leftward.
B) must be upward sloping.
C) is elastic.
D) is inelastic.
C
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Indirect price discrimination differs from direct price discrimination because
a. In direct price discrimination high value consumers can sometime enjoy the benefits of a low-values customer b. In Direct price discrimination firms do not have to worry about cannibalizing c. In direct price discrimination there is a risk of creating profitable entries for rival but for indirect price discrimination, this can be avoided d. There is no difference between the two
If an industrial union would strike if it does not receive a particular wage rate, then the supply curve of labor in this market
a. is horizontal at that particular wage rate until it intersects the original supply of labor curve b. is vertical at that particular wage rate until it intersects the original supply of labor curve c. shifts to the left d. disappears e. slopes downward