Distinguish between a price-discriminating monopoly and a single-price monopoly
What will be an ideal response?
A single-price monopoly charges every consumer the same price for each unit of the good or service the consumer buys. A price-discriminating monopolist might charge different consumers different prices for the same good or service or charge the same consumer different prices for different units of the good or service. When a firm practices price discrimination, it sells different units of a good or service for different prices.
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The human skills theory is similar to the factor abundance theory of explaining the source of comparative advantage, except that the former concentrates only on different aspects of labor
a. True b. False Indicate whether the statement is true or false
The most liquid asset(s) of all is (are)
a. cash in the hands of the public b. cash in the hands of banks c. demand deposits held by households and businesses at commercial banks d. travelers' checks e. credit cards
Which of the following is true?
a. The national debt increases in size whenever the federal government has a surplus budget. b. The national debt's size decreased steadily after 1980. c. The current U.S. national debt is over $13 trillion. d. The size of the national debt currently is about the same size as it was during World War II.
Refer to the graph shown. A perfectly competitive firm would never operate if the price dropped to which segment of the marginal cost curve?
A. DE. B. CD. C. AC. D. CE.