Recent research suggests that if Apple switched from uniform pricing of its iTunes to two-part pricing,
A) total welfare would increase, but consumer surplus would decrease.
B) total welfare and consumer surplus would increase.
C) total welfare would decrease, but consumers surplus would increase.
D) total welfare and consumer surplus would decrease.
B
Economics
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Market exchange is typically an exchange of goods for money, as opposed to goods for goods, because use of money solves the problem of
A) the absence of a coincidence of wants. B) the absence of a double coincidence of wants. C) a coincidence of needs. D) tax evasion.
Economics
Define rent seeking. Is rent-seeking activity likely to be highly profitable in the long run? Why or why not?
What will be an ideal response?
Economics