Amusement parks often offer coupons to the local market that are not available to tourists. This is an example of
a. Direct discrimination scheme
b. Indirect discrimination scheme
c. Both of the above
d. None of the above
b
You might also like to view...
George was assigned to read a chapter in economics tonight, but he has a math exam tomorrow. He chooses to study for the math exam and postpone his economics studies until after the exam. What is the opportunity cost of George's decision?
A) The lower math grade he would have received had he not studied for the math exam B) The economics knowledge he sacrificed by not reading the assigned chapter C) Both A and B above D) Without information regarding the price of the textbook and the value to George of the math exam, George's opportunity cost cannot be determined.
Suppose a competitive firm is paying a wage of $12 an hour and sells its product at $3 per unit. Assume that labor is the only input. If the last worker hired produces four units of output per hour, then to maximize profits the firm should
A) hire another worker. B) not change the number of workers it currently hires. C) lay off some workers. D) There is not enough information to answer the question.