In order to effectively price discriminate, one requirement is that a seller must be able to:
A. reduce costs when producing the discounted item.
B. resell the product.
C. avoid detection because price discrimination is illegal.
D. identify customers with different reservation prices.
Answer: D
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A) because of shortages B) because we cannot seem to decide what we really want C) because other people try to change your mind about what you want D) because limited resources mean all the goods we want cannot be obtained
Craig quit a job earning $12,00 . per year to open his own lawn-care service. Yesterday, he was offered a job earning $20,00 . per year at Home Depot, but he turned it down to continue running his lawn-care service. Assuming that his total revenue (= P
× Q) has not changed, (a) explain the impact of this job offer on Craig's economic profit, and (b) explain the impact of this job offer on his normal profit.
Refer to the graph shown. At which point is elasticity zero?
A. A B. B C. C D. D
If foreigners held U.S. assets worth $200 billion during a certain year and the value of the current account for that year was -$189 billion, the total volume of foreign assets held domestically was worth ________
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