Dan is the pricing director for a near monopoly. He has been warned to avoid predatory pricing. Which of the following actions does Dan need to avoid?
a. pricing products at exactly the same level as competitors
b. charging higher prices when raw material costs increase
c. charging different prices to different customers based on their occupation
d. lowering prices to bankrupt his competitors, then raising prices dramatically
d. lowering prices to bankrupt his competitors, then raising prices dramatically
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The above figure shows the market for hamburger. Which panel shows the effect of a drought in "cattle country"?
A) Figure A B) Figure B C) Figure C D) Figure D
In the extended classical model, an unexpected decrease in aggregate demand would cause unanticipated inflation to be ________ and cyclical unemployment to be ________
A) positive; negative B) positive; positive C) negative; negative D) negative; positive