What are ration coupons and what is their purpose? Provide a historical or current example
What will be an ideal response?
They are tickets or coupons that entitle individuals to purchase a certain amount of a given product per month. A historical example would be ration coupons for gasoline during World War II.
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For a monopolist, the marginal revenue gained when one more unit of output is sold is
A) the price at which the extra unit is sold minus the loss in revenue that results from cutting the price on units sold previously. B) equal to the price of the product. C) negative if price is above the midpoint of the demand curve. D) the average revenue created by the increased sales.
Firms that employ statistical discrimination in the labor market will earn higher profits in expectation than firms that do not discriminate (and have no effective screens).
Answer the following statement true (T) or false (F)