Dynamic pricing allows a website to use the personal information collected on a customer, such as income or location, to individualize the price of a product for each customer. Economists consider this type of pricing an example of:
A. price gouging.
B. consumer sovereignty.
C. price discrimination.
D. producer sovereignty.
Answer: C
You might also like to view...
In 1971, the U.S. government banned cigarette advertising on radio and television. After the ban was imposed, an economist would predict that the price of magazine ads would
A. increase. B. decrease. C. increase, but only for cigarettes. D. not be affected by this ban.
Describe the differences between tradeoffs and free lunches in terms of a PPF
What will be an ideal response?
According to the above figure, what are the profits of the firm if it produces 50,000 units?
A) -$5,000 per day B) -$10,000 per day C) -$7,500 per day D) -$17,500 per day
An indirect cost of government debt is:
A. it can distort the credit market and slow economic growth. B. it can cause hyperinflation. C. it can cause unemployment below the natural rate. D. All of these are true.