Which of the following events would benefit American consumers?
A. The Chinese economy starts to grow more slowly than the U.S. economy.
B. South Korea begins to subsidize its auto exports.
C. The U.S. dollar experiences depreciation against the euro.
D. The U.S. government strengthens trade barriers against foreign imports.
Answer: B
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Marginal benefit equals the
A) benefit that a person receives from consuming another unit of a good. B) additional efficiency from producing another unit of a good. C) increase in profit from producing another unit of a good. D) cost of producing another unit of a good. E) total benefit from consuming all the units of the good or service.
For price discrimination to exist, all of the following are necessary EXCEPT
A) a downward sloping demand curve. B) an identifiable group of buyers with different elasticities of demand. C) an upward sloping marginal cost curve. D) there can be no resale of the product.