Of the three types of price-discrimination, which is impossible to practice in any market in reality?
A) first-degree price discrimination
B) zero-degree price discrimination
C) third-degree price discrimination
D) second-degree price discrimination
A) first-degree price discrimination
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Refer to Figure 18-1. Suppose that the U.S. government deficit causes interest rates in the United States to rise relative to those in the European Union. Assuming all else remains constant, how would this be represented?
A) Supply would decrease, demand would decrease and the economy moves from B to C to D. B) Supply would increase, demand would decrease and the economy moves from C to B to A. C) Demand would decrease and the economy moves from B to A. D) Demand would increase and the economy moves from A to B.
Which of the following is an example of a possessory property right?
a. The right to use a public park for morning walk. b. The right to park your car in your garage. c. The right to enjoy the fragrance of the flowers planted in your neighborhood. d. The right to travel in public transport.
Stanley receives the following marginal utilities from the first four car washes that he buys each year, respectively: 20, 15, 10, and 5 . If each car wash sells for $10, then the marginal utility per dollar spent on the third car wash is
a. 10 b. 4.5 c. 1 d. 45 e. 5
The fact that not everyone places all of his/her savings in U.S. Treasury bonds indicates that:
A. most investors are not risk averse. B. most people are risk-neutral. C. many investors are actually risk seekers. D. even risk-averse people will take risk if they are compensated for it.