Which of the following is true regarding price discrimination?
i. It converts consumer surplus to economic profit.
ii. A price discriminator must be a monopoly.
iii. To be able to price discriminate, the firm must be able to identify different types of buyers.
A) i and ii
B) i and iii
C) ii and iii
D) ii only
E) i, ii, and iii
B
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A. tax rate. B. necessary work hours. C. total bill. D. tax burden.
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A. Those farmers receiving the highest average farm-family income B. Those farmers receiving the midrange average farm-family income C. Those farmers receiving the lowest average farm-family income D. Large corporate farms