Refer to Figure 16-7. The owners of the Lizard Lounge are considering the following four pricing options:
a. A single price scheme where the cocktail price equals the monopoly price.
b. A single price scheme where the cocktail price equals the competitive price.
c. A two-part tariff: a monopoly cocktail price and a cover charge that will generate total revenue equal to the area X.
d. A two-part tariff: a competitive cocktail price and whatever cover charge that will generate a total revenue equivalent to the area X + Y + Z.
Which pricing scheme(s) achieve the economically efficient outcome?
A) schemes a and c B) scheme b C) schemes b and d D) scheme d only
Question 2
If the economy is producing at potential GDP
A) the short-run aggregate supply curve must be vertical.
B) inflation in the economy is at its natural rate.
C) the Phillips curve must be positively sloped.
D) unemployment is at its natural rate.
Myopia (nearsightedness). In the uncorrected top figure, the image comes into focus in front of the
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Demonstrate the Application of Triangular, Figure-Eight, and Tubular Bandages
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Lod Score Values for the Families in Figure 5.15