Third-degree price discrimination occurs when:
A) different groups of consumers are charged different prices.
B) consumers are charged different prices at different points of time.
C) consumers are charged different prices according to their willingness to pay.
D) consumers are charged different prices based on the characteristics of their purchases.
A
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Consider two scenarios for a nation's economic growth. Scenario A has real GDP growing at an average annual rate of 2%; scenario B has an average annual growth of 8%. The nation's real GDP would double in about
A. 36 years under scenario A, versus 18 years under scenario B. B. 18 years under scenario A, versus 9 years under scenario B. C. 36 years under scenario A, versus 9 years under scenario B. D. 25 years under scenario A, versus 12.5 years under scenario B.
As the stock of capital grows, there will typically be ________ depreciation
A) less B) more C) the same amount of D) no
In the table above, the number of marginally attached workers is ________
A) 40 million B) 6 million C) 2 million D) 4 million
A tax equal to the external marginal cost of an activity yields the efficient level of production because the tax
A) achieves the competitive equilibrium. B) forces producers to face all costs of production including the external cost. C) ensures greater profits for the firm. D) eliminates all pollution.