Price discrimination:
A. is more successful if resale of the product is possible from one consumer to another.
B. can be a successful strategy for any firm in a competitive market
C. tends to decrease the profits of the firm.
D. can benefit consumers with a lower willingness to pay when compared to other consumers in the market
Answer: D
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In the years before the Civil War, Southern states, because of high protective tariffs, were forced to buy most of their manufactured goods from _________.
Fill in the blank(s) with the appropriate word(s).
A consumer's ________________ line or constraint shows various combinations of two products that can be purchased with a specific amount of income.
Fill in the blank(s) with the appropriate word(s).
The purpose of derivatives is to:
A. postpone the risk for both parties in the transaction. B. transfer the risk from one person to another. C. increase the risk so the return is larger. D. eliminate risk for both parties in the transaction.
Some economists in the 1950s predicted that the Soviet Union would continue to grow faster than the United States for decades to come because
A. in the 1950s, the Soviet Union was investing a very large amount in capital accumulation B. in the 1950s, the Soviet Union was investing a very large amount in training its labor force C. in the 1950s, the Soviet Union was investing a very large amount in acquiring knowledge capital D. in the 1950s, the Soviet Union was investing a very large amount in acquiring new technologies