If Healthy Bars sells its snack bars in the United States for $3 a bar and for $2 (dollar equivalent) in Mexico, this is an example of ________.
A) two-part pricing
B) third-degree price discrimination
C) peak-load pricing
D) second-degree price discrimination
B) third-degree price discrimination
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The assumption that people act in their best self-interest means people
a. do what gives them the greatest benefits at the lowest costs. b. are selfish. c. do what gives them the smallest benefits at the greatest costs. d. are irrational.
The country of Yokovia does not trade with any other country. Its GDP is $20 billion. Its government collects $2 billion in taxes. Consumption equals $15 billion and investment equals $2 billion. What is public saving in Yokovia, and what is the value of the goods and services purchased by the government of Yokovia?
a. -$2 billion and $1 billion. b. $1 billion and $1 billion. c. -$1 billion and $3 billion. d. -$2 billion and $3 billion.
As bookings for his catering business began to increase, David raised his rates. Then he decided to take on even more bookings than he had before. Which of the following describes his labor supply curve?
a. U-shaped b. upward sloping c. downward sloping d. backward bending
Suppose the government has a budget deficit of $2 billion. If the Ricardo-Barro effect is correct, then how much crowding out of investment occurs?
A) exactly equal to $2 billion dollars
B) more than $2 billion
C) some crowding out occurs, but less than $2 billion
D) No crowding out occurs and investment does not change.
E) No crowding out occurs because investment increases by $2 billion.