Refer to the above figure. Line ABCD is a(n)
A. aggregate demand curve.
B. natural rate of unemployment curve.
C. Phillips curve.
D. discretionary-policy curve.
Answer: C
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For direct price discrimination to work
a. The firm must be able to identify the members of the low value group b. The firm must charge a single price to all its customers c. The firm need not worry about any arbitrage since all its customers are charged the same price d. The firm should charge a higher price to those customers with the most elastic demand
A country is likely to have a comparative advantage in a land-intensive activity if it has a:
A. lot of land relative to its population. B. large population relative to its landmass. C. higher opportunity cost of producing technology. D. large amount of capital equipment relative to its population.