Sellers can increase total revenues by charging different individuals the maximum amount they are willing to pay.
Answer the following statement true (T) or false (F)
True
If a price is highly negotiable, as occurs at car dealerships, sellers can increase total revenues by getting individuals to pay the highest price they are willing to pay.
You might also like to view...
The most common way for workers to hold market power is when:
A. there are a lot of them. B. they compete for minimum wage. C. they are unionized. D. a monopsony exists.
The greater the inflation rate, the
A. better it is to put money into savings accounts. B. slower the decrease in the purchasing power of money. C. faster the decrease in the purchasing power of money. D. better it is to hold money as cash.
New growth theory
A) states that the rate of technological change is caused by economic incentives. B) states that the rate of technological change is determined outside the working of the market system. C) states that the rate of technological change is unaffected by economic incentives. D) does not adequately explain the factors that determine productivity.
The Clayton Act of 1914:
a. was too vaguely worded to reduce anticompetitive behavior significantly b. prohibited conspiracies in restraint of trade c. prohibited price discrimination that reduces competition and cannot be justified based on cost differences d. created the Federal Trade Commission