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Title: The incidence of the tax between buyers and sellers depends only on the elasticity of demand. ... Post by: emilyhoffman on Feb 26, 2018 The incidence of the tax between buyers and sellers depends only on the elasticity of demand.
Indicate whether the statement is true or false Ques. 2 In the above figure, the monopsony wage rate is ________ and the quantity of labor is ________. A) 7.00; 150 hours B) 8.00; 200 hours C) 6.00; 100 hours D) 8.00; 100 hours Ques. 3 Discrimination ________ the group being discriminated against and ________ the group being favored. A) decreases the demand for; increases the demand for B) increases the demand for; decreases the demand for C) decreases the supply of; increases the supply of D) increases the supply of; decreases the supply of Ques. 4 Selling costs, such as advertising, are likely to be a large share of total cost in an industry that is A) perfectly competitive. B) monopolistically competitive. C) a monopoly. D) non-profit. Ques. 5 What are the two conditions that are met if a consumer is maximizing utility? What will be an ideal response? Ques. 6 The market for maple syrup is perfectly competitive. Suppose that the market is in long-run equilibrium when the market demand for maple syrup increases. What happens in the short run? A) Firms will enter the market. B) Some of the existing firms shut down. C) The firms decrease production. D) The firms increase production. Ques. 7 The Clayton Act repealed the Sherman Act so that only the Clayton Act remains in force. Is the previous statement correct or incorrect? What will be an ideal response? Ques. 8 It is easier for a monopolist to price discriminate between groups for a service than for a good because A) it is easier to calculate average willingness to pay for services. B) it is easier to distinguish between groups of customers for services than customers for goods. C) it is easier for consumers to resell goods than resell services. D) customers for goods usually do not differ with respect to their average willingness to pay. Title: The incidence of the tax between buyers and sellers depends only on the elasticity of demand. ... Post by: Hansolo18 on Feb 26, 2018 Content hidden
Title: The incidence of the tax between buyers and sellers depends only on the elasticity of demand. ... Post by: emilyhoffman on Feb 26, 2018 Extremely helpful
Title: The incidence of the tax between buyers and sellers depends only on the elasticity of demand. ... Post by: Hansolo18 on Feb 26, 2018 Cool, thanks for the positive feedback
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