The practice of price discrimination is associated with pure monopoly because:
A. it can be practiced whenever a firm's demand curve is downsloping.
B. monopolists have considerable ability to control output and price.
C. monopolists usually realize economies of scale.
D. most monopolists sell differentiated products.
Answer: B
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A. higher-skilled; lower-skilled B. government; private-sector C. male; female D. union; nonunion
If a prisoners' dilemma game is played repeatedly, what punishment strategies might the players employ and how does playing the game repeatedly change the equilibrium?
What will be an ideal response?
Contrary to Fogel and Engerman's (1974) claim, most surveyed economists believed that slavery was on the verge of extinction on the eve of the Civil War
Indicate whether the statement is true or false
Students in a class are assigned to groups to work on a project. A grade will be given for each project, and everyone in the group will receive that grade. For the members of a particular group, the grade is a
a. beneficial externality. b. public good. c. detrimental externality. d. moral hazard.