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Verified questions
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Suppose a person goes into a store and buys a pair of shoes with money. Is money functioning principally as a medium of exchange, a store of value, or a unit of account?
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QUESTION
In order to practice price discrimination, a firm must have A. market power. B. customers of different ages. C. customers with the same price elasticity of demand. D. customers with different income levels. E. customers in different locations.
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ECONOMICS
You go out to the best restaurant in town and order a lobster dinner for $40. After eating half of the lobster, you realize that you are quite full. Your date wants you to finish your dinner because you can’t take it home and because “you’ve already paid for it.” What should you do? Relate your answer to the material in this chapter.
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ECONOMICS
Alicia turned down a job that pays $60,000 a year for a job that pays$32,000 a year. The nonmoney benefits in the lower-paying job equal at least what dollar amount?
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