Price discrimination occurs when a firm
A) charges customers different prices for different goods.
B) is able to sell different units of a good at different prices.
C) charges customers the same price for different goods.
D) can determine which of the many market equilibrium prices it will charge.
E) has a marginal cost curve that is horizontal.
B
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A graph shows that the number of U.S. tourists visiting a Caribbean island increases as the temperature in the northeastern United States falls. The graph shows
A) a direct relationshi
Under conditions of perfect competition, short-run equilibrium does not necessarily exist where
a. profit is maximized or loss minimized. b. MR = AR. c. MR = MC. d. MR = ATC.
According to the Keynesian view, an unanticipated reduction in spending will
a. increase the demand for goods and services. b. raise business inventories and lead to a decline in output. c. lead to lower interest rates, which will stimulate aggregate demand and keep the economy at full employment. d. lead to a lower price level, which will quickly guide the economy to full-employment equilibrium.
In most models of managerial conflict, the owner is the ________ and the manager is the ________.
A. employee; director B. principal; agent C. wage earner; stockholder D. resource; resource owner