Division of customers by territory or customer type is illegal
Indicate whether the statement is true or false
T Sellers cannot confine sales to customers in a particular region, say a United States state, although they can locate sellers so they are separated from one another so their within-product competition is limited.
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The figure above shows the demand, marginal revenue, and marginal cost curves for Paul's Parrot pillows, a single-price monopoly producer of pillows stuffed with parrot feathers. When Paul maximizes his profit, his total economic profit is
A) $60. B) $405. C) $0. D) $210,000. E) unknown because more information is needed to determine Paul's profit.
The ratio of a country's average export price to its average import price is
(a) its absolute advantage. (b) its comparative advantage. (c) its terms of trade. (d) its exchange rate.