With price? discrimination, a monopoly
A) converts consumer surplus into economic profit.
B) converts producer surplus into economic profit.
C) can charge a single price to all customers.
D) produces less output than if it does not price discriminate.
E) converts consumer surplus into dead weight loss.
Answer: A) converts consumer surplus into economic profit.
You might also like to view...
Answer the following statement(s) true (T) or false (F)
1. Proponents of an environmentally adjusted measure of national income believe that environmental pollution linked to production should be recorded as a loss in the system of national accounts (SNA). 2. Improvements made to China’s environment in preparation for the Olympic Games in 2008 have been maintained and even enhanced over time. 3. The economic criteria concerned with minimizing resource use to achieve an objective is known as allocative efficiency. 4. Setting an air quality standard is an example of a command and control approach to improving the environment. 5. A tax imposed on emissions is an example of the market approach to pollution control.
Consumers ________ from a tariff because they pay a ________ price to producers so they purchase a ________ quantity of the good
A) lose; lower; smaller B) win; lower; larger C) win; higher; smaller D) lose; higher; smaller E) lose; higher; larger
The Patient Protection and Affordable Care Act (ACA) is scheduled ________, at which point more than 30 million additional individuals are expected to have health care coverage
A) to be completely in place in 2016 B) to be phased out by 2015 C) to be phased in over the next 20 years D) to be fully implemented by 2019
A U.S. Treasury bond is a
a. store of value and common medium of exchange. b. store of value, but not a common medium of exchange. c. a common medium of exchange, but not a store of value. d. neither a store of value nor a common medium of exchange.