Given an equal amount of users, if the firm can only set one price, how should the firm price the no-name brand wok?
a. Price low and sell to both the users
b. Price high and sell only to the professional chefs
c. Price low and sell only to the home users
d. All of the above
a
Economics
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An efficiency wage is ________ and results in ________
A) equal to the equilibrium wage; full employment B) above the equilibrium wage; a surplus of labor C) below the equilibrium wage; a shortage of labor D) above or below the equilibrium wage; a surplus or shortage of labor
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Industries that seek trade protection from government can be said to be engaging in rent seeking behavior
a. True b. False
Economics