Under which of the following monopoly pricing methods is the average price paid by a consumer equal to the marginal willingness to pay by that consumer:
A. First degree price discrimination
B. Second degree price discrimination
C. Third degree price discrimination
D. Both (a) and (b)
E. Both (b) and (c)
F. Both (a) and (c)
G. All of the above
H. None of the above
Answer: C
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The ultimate burden of the corporate profits tax appears to depend on all of the following except
A. the ease with which capital and labor can be substituted in the corporate and noncorporate sectors. B. the tax rate structure of the corporate profits tax. C. the relative capital/labor intensity of the corporate and noncorporate sectors. D. the elasticities of demand for the products produced in the corporate and noncorporate sectors.