What is the difference between first-, second- and third-degree price discrimination?
Answer:
third: by person only
second: by quantity only
first: by both quantity and price
You might also like to view...
In a monopoly, producer surplus is
A) larger than under perfect competition. B) is equal to that under perfect competition. C) smaller than under perfect competition. D) None of these choices is true.
Macroeconomists think that
a. most questions about individual markets are more important than the overall economy. b. questions of overall unemployment are less important than the jobs of particular workers. c. the details of resource allocation and individual market prices are less important than the amount of national output. d. the causes of unemployment usually lie with the personalities of individual workers. e. the price of particular products is more important than the overall price level.
Repeated play can change the outcome in sequential games by:
A. reducing the first-mover advantage. B. making collusion more probable. C. removing the incentive to cooperate. D. increasing the incentive to defect.
If = 4%, = 3%, and = 2%, then must equal:
What will be an ideal response?