Without price discrimination, a firm
A) faces a tradeoff when pricing a good that has customers with different willingness to pay.
B) cannot maximize profit.
C) has no market power.
D) does not get any producer surplus, with all of the surplus going to consumers.
A
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The 12 regional Fed banks do all of the following except:
A. Clear checks between private banks. B. Lend money to individuals. C. Provide currency to banks. D. Hold bank reserves.
Which of the following contributed to the soaring housing prices during 2002-2004?
What will be an ideal response?
A difference between biology and economics is that
A) economists use models and biologists use theories. B) biologists often use laboratory experiments and economists do less often. C) economics explains events while biology predict events. D) biologists use the scientific method while economists do not.
If two firms produce the same product but have different supply curves,
A) this would indicate that some other variable differs across the two firms. B) this would indicate that all variables are the same across the two firms. C) this would indicate that one or both of the firm's managers are misinformed. D) this would indicate a need for government regulation.