Compared with a normal monopolist, an effective price-discriminating monopolist produces a:
A. smaller output at a lower profit.
B. smaller output but at a larger profit.
C. larger output but at a lower profit.
D. larger output at a larger profit.
Answer: D
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The figure above shows a nation's consumption function. If disposable income is $4 trillion, then the MPC is ________ and saving is ________
A) negative; positive B) positive; positive C) positive; zero D) negative; negative E) positive; negative
In evaluating a relationship between x and y, ceteris paribus means other variables
A) are not relevant to x and y. B) move in opposite directions to x and y. C) are not changing while x and y change. D) move in the same direction as x and y.
For a rational consumer, the consumer’s surplus will never be a negative number.
Answer the following statement true (T) or false (F)
When the U.S. government runs a deficit, the savings in the market for loanable funds shifts:
A. right, decreasing interest rates and increasing domestic investment and NCO. B. left, increasing interest rates and decreasing domestic investment and NCO. C. right, increasing interest rates, and increasing domestic investment and NCO. D. left, decreasing interest rates and increasing domestic investment and NCO.