(pg 168) Charging prices closer to what consumers are willing to pay for a good
a. Reduces consumers surplus
b. Increases producer surplus
c. Both a and b
d. None of the above
c
Economics
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Which of the following represents a serious barrier to entry?
a. high fixed cost b. low fixed cost c. easy access to acquiring resources d. no history of patents in the industry e. very elastic demand for the good
Economics
If a nation experiences severe drought and real risk-free interest rate rises, then:
a. Aggregate demand falls, and aggregate supply rises. b. Aggregate demand and aggregate supply rise. c. Aggregate demand and aggregate supply fall. d. Neither aggregate demand nor aggregate supply change. e. None of the above.
Economics