question archive 1) Suppose a U

1) Suppose a U

Subject:EconomicsPrice: Bought3

1) Suppose a U.S. computer company outsources its technical-support services to India. This will cause:

a. The demand for labor in the U.S. to increase, increasing U.S. wage rates, and the demand for labor in India to fall, decreasing Indian wage rates.

b. The demand for labor in the U.S. to fall, lowering U.S. wage rates, and the demand for labor in India to fall, decreasing Indian wage rates.

c. The demand for labor in the U.S. to fall, lowering U.S. wage rates, and the demand for labor in India to increase, increasing Indian wage rates.

d. The demand for labor in the U.S. to increase, lowering U.S. wage rates, and the demand for labor in India to fall, increasing Indian wage rates.

2. A monopolist engages in price discrimination by charging

a. A higher price when marginal costs are lower

b. The same price to all consumers

c. A lower price to consumers whose demand is more elastic

d. A higher price to consumers whose demand is more elastic

3. John has just tried on the most comfortable pair of pants that he has ever known. The pants are a(n)

a. Information good

b. Experience good

c. Logo good

d. Credence good

pur-new-sol

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