A mail-order clothing company offers a discount if customers purchase two shirts instead of only one. This is necessarily an example of quantity discrimination
Indicate whether the statement is true or false
False. The shipping cost per item is less for two shirts than for one. This cost difference may explain the discount.
Economics
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According to your textbook, profit is a payment to
a. capital in the resource market b. labor in the entrepreneurial market c. capital in the product market d. entrepreneurship in the product market e. entrepreneurship in the resource market
Economics
Which of the following equals the ratio of the change in total revenues over the change in output?
A) total cost B) average revenue C) demand D) marginal revenue
Economics