By far, the most frequently encountered price discrimination is the
A) first-degree price discrimination.
B) second-degree price discrimination.
C) third-degree price discrimination.
D) fourth-degree price discrimination.
C
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Percentage markups are characteristically lower in supermarkets than in convenience stores because
A) convenience stores must charge high markups to compensate for low volume. B) marginal revenue is greater in supermarkets than in convenience stores. C) supermarkets are able to operate with a lower percentage return on investment. D) supermarkets can take advantage of quantity discounts. E) the demand curves of customers patronizing supermarkets tend to be more elastic.
Taxes collected by businesses and sent to the government are:
a. indirect business taxes. b. direct business taxes. c. corporate income taxes. d. personal income taxes.
If minimum wage legislation does not cause unemployment, then:
A. those who work for minimum wage will benefit. B. firms will generally gain by earning higher profits. C. most likely the government won't study how minimum wage legislation may affect employment. D. minimum wages may still be binding for many employees.
Explain the costs imposed by an increase in inflation
What will be an ideal response?