Financial aid to college students, quantity discounts, and senior citizen discounts are all examples of
a. consumer surplus.
b. deadweight loss.
c. price discrimination.
d. nonprofit pricing strategies.
c
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The most efficient market structure in the long run is
a. perfect competition. b. monopolistic competition. c. oligopoly. d. monopoly.
Consider the following figure that shows the demand and the cost curves of a perfectly competitive firm. The firm will earn zero economic profit _____. ?
a. ?at a price of P3 b. ?at a price between P1 and P2 c. ?at a price of P1 d. ?at a price above P1 e. ?at a price of P2
Which of the following is a possible impetus for a banking panic?
a. An individual bank fails. b. A large, very important bank fails. c. Congress increases the amount of demand deposits that are protected by insurance. d. Banking rules change to make it harder for banks to make bad loans. e. Changes in the discount rate.
Which of the following is not a role of the government in the economy?
a. Establishing and Enforcing the Rules of the Game. b. Limiting Competition c. Regulating Natural Monopolies d. None of the above are roles of the government in economic systems.