Efforts by a firm to obtain a monopoly
A) are called price discrimination.
B) increase consumer surplus.
C) are called rent seeking.
D) are called price taking.
C
Economics
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The absence of value judgments is the essence of
A) normative economics. B) positive economics. C) microeconomics. D) macroeconomics.
Economics
Suppose the CPI does indeed overstate the inflation rate. When the CPI increases by 5 percent and household incomes increase by 5 percent, we should conclude that real incomes of households have:
A. increased. B. increased more slowly than has inflation. C. stayed constant. D. decreased.
Economics