Mouthwash is sold in 24 oz bottles for $2.40 and in 12 oz. bottles for $1.20. This represents
A) price differentiation.
B) price discrimination.
C) marginal cost pricing.
D) None of the above.
D
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How is the impact of contractionary monetary policy different in an open economy than in a closed economy?
What will be an ideal response?
Which of the following is not true of monopolists?
a. The entry of new firms is not a major concern. b. Monopolists seek to maximize profits. c. Monopolists can charge any price they want and make a profit. d. Monopolists can choose any point on the market demand curve. e. Monopolists can raise price more than 10 percent.
A decline in aggregate demand is analogous to an upward movement along the short-run Phillips curve
a. True b. False Indicate whether the statement is true or false
The expenditure approach to GDP accounting includes
a. wages and salaries b. net exports c. net interest d. corporate profit e. proprietors' income