With perfect price discrimination there is
A) an increase in consumer surplus. B) one single price.
C) no deadweight loss. D) no producer surplus.
C
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Answer the following statement(s) true (T) or false (F)
1. The two major sources of water contamination are typically classified as mobile and stationary sources. 2. Because the Chesapeake Bay’s quality had not improved sufficiently, a Presidential Executive Order established a committee to develop a strategy to restore the bay. 3. A cruise ship is an example of a nonpoint source. 4. Water runoff from a major highway is an example of a point source. 5. According to the textbook application, point source pollution has been eliminated from the Chesapeake Bay.
The supply curve for space on a freeway is perfectly vertical at any given point in time
Indicate whether the statement is true or false
If Harun’s taxes are $20,000 when he earns $100,000 and $15,000 when he earns $80,000, then
A. Harun faces a progressive tax. B. Harun faces a regressive tax. C. Harun faces a proportional tax. D. Harun faces a falling marginal tax rates.
Which of the following goods are likely to have a positive cross-price elasticity?
A. Butter and margarine B. Pepsi and pizza C. Peanut butter and jelly D. Tires and automobiles