The more perfectly a monopoly can price discriminate, the
A) smaller its output and the lower its profits.
B) smaller its output and the greater its profits.
C) larger its output and the lower its profits.
D) larger its output and the greater its profits.
D
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Using a change in supply and/or demand, explain the following phenomena:
a. All else constant, gasoline prices are higher in summer than winter months. b. At the same time that the quality of personal computers has been increasing, the price of personal computers has been falling.
Noise traders involves investors who
A) overreact to good and bad news. B) strictly follow the efficient markets hypothesis. C) filter out the noise involved in following their stocks. D) ignore new information about stocks.
The practice of tying can make entry difficult
Indicate whether the statement is true or false
Intermediate goods, like milk sold by a farmer to a supermarket, are
A. included in GDP. B. included in GDP at market value. C. included if it is imported. D. are not included in GDP.