For price discrimination to work, the young should ________ than/to the old.
Fill in the blank(s) with the appropriate word(s).
Answer: sometimes be charged more and sometimes charged less
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Betsy's utility depending from her consumption of coffee is shown in the table above. If the price of a cup of coffee is $2, Betsy's marginal utility per dollar from the 2nd cup of coffee per day is
A) 15. B) 40. C) 20. D) 32.5.
Refer to Figure 10-5. "Crowding out" of firm investment as a result of a budget deficit is illustrated by the movement from ________ in the graph above
A) C to A B) A to B C) B to A D) B to C
If at the current level of product-specific service, consumers' value at $60 and the cost of retailers to provide the services is $60, which of the following is true?
A) the profit-maximizing level of profit-maximizing services is less than the current level B) the profit-maximizing level of profit-maximizing services is greater than the current level C) the profit-maximizing level of profit-maximizing services is exactly double the current level D) the profit-maximizing amount of product-specific services is being offered.
Nash equilibrium is:
a. where one player maximizes his payoff and the other doesn't b. where each player maximizes the expected payoff c. similar to a dominant strategy d. difficult to determine