It is true that the distribution process carried out by the price system
a. accomplishes the task more efficiently than central planners would.
b. favors the rich.
c. is superior to other rationing mechanisms because it is able to pay attention to individual consumer preferences.
d. All of the above are true.
d
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The supply curve of a good or service is the same as
A) the demand curve. B) the marginal benefit curve. C) the marginal cost curve. D) the total surplus curve. E) None of the above answers is correct.
An exclusive contract:
a. makes it illegal to price discriminate. b. requires a buyer to purchase all products from a specified supplier. c. requires a buyer not to purchase any requirements from the competitor of a specified supplier. d. requires the buyer to purchase a second product as a condition of receiving the one he wants. e. requires a seller to market its product within a limited geographic territory.