Price discrimination occurs when
a. price exceeds marginal cost
b. a firm charges different customers different prices, and the differences are not explained by cost factors
c. price exceeds average cost
d. a firm charges different customers different prices, where these differences are based on cost differences
e. price equals average variable cost
B
You might also like to view...
A soil bank program is designed to
a. increase the supply of farm goods b. increase the availability of farm land c. decrease the supply of farm goods d. increase the demand for farm goods e. decrease the price of farm goods
Two countries with differing comparative advantages may engage in trade because
A. They will be able to consume more goods in total due to specialization and trade. B. They will be able to produce and consume goods on their production possibilities curves. C. They will achieve an absolute advantage with one another. D. They are required to because they are part of the World Trade Organization.
Explain the relationship between real GDP and potential GDP during the two phases of the business cycle
What will be an ideal response?
If the rate of inflation in the United States exceeds the rate of inflation in Great Britain we would expect the U.S. dollar to depreciate in value against the British pound
Indicate whether the statement is true or false