A firm practicing group price discrimination that has constant marginal cost will
A) maximize total profit by maximizing profit for each group separately.
B) will charge the same price to all groups.
C) will act like a monopoly and treat all groups the same.
D) sets p = MC.
A
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Payments to nonowners of a firm are called:
a. implicit costs. b. accounting costs. c. explicit costs. d. economic costs.
When an economy is operating at its full employment rate of output:
a. the rate of unemployment will be zero. b. output will exceed the economy's maximum sustainable rate. c. the actual rate of unemployment will equal the natural rate. d. the economy's potential rate of output will exceed actual GDP.
If the variable on the vertical axis increases by 24 and the variable on the horizontal axis decreases by 3, the slope of the line is:
A. -24. B. -8. C. 3. D. 72.
Consider player n in a sequential game. a. If the player can play 3 actions from a single node, how many pure strategies does he have? b. Suppose he can play 3 actions at each of two different nodes. How many pure strategies does he have now? c. Suppose he can play 3 actions at each of three different nodes. How many pure strategies does he have now? d. Suppose he can play 3 actions at each of four different nodes. How many pure strategies does he have now? e. Suppose he can play 3 actions at each of k different nodes. How many pure strategies does he have now?
What will be an ideal response?