To be able to price discriminate, a firm must
A) lower prices for all customers.
B) raise prices for all customers.
C) be able to identify and separate different types of buyers.
D) sell a product that can be resold.
E) Both answers B and C are correct.
C
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As shown by the IS-LM model, there are two reasons that the Fed can lose control of the economy. One of these reasons is
A) federal funds rate can never reach zero percent. B) zero federal funds rate is not sustainable. C) household and business borrowers do not base their decision to borrow on interest rates. D) that the zero federal funds rate achieved by the Fed is irrelevant to household and business borrowers.
Which of the following represents a perfectly competitive farmer's demand curve for hired hands?
a. her ATC curve b. her AVC curve c. her MRP curve d. her MRC curve e. her AFC curve
Full employment means which of the following is zero?
A. structural unemployment B. cyclical unemployment C. frictional unemployment D. aggregate unemployment
Which expression is another way of saying "marginal cost"?
A. average cost B. total cost C. scarcity D. additional cost