In perfect price discrimination, consumer surplus is zero because each consumer pays:
a. the market price
b. the cost price.
c. peak load price.
d. the reservation price
d
You might also like to view...
Explain the key issues presented by both sides of the Staples/Office Depot case in 1997.
What will be an ideal response?
If monopolistic competitors are making a profit in the short run, in the long run _____________ and squeeze out profits.
Fill in the blank(s) with the appropriate word(s).
Poor nations typically have a competitive advantage in agricultural goods because of
A. High productivity. B. Low labor costs. C. Entrepreneurial incentives. D. Plenty of land.
The slope of a many-worker consumption possibilities is determined by the relative price of
A. the good that is least in demand. B. both goods in the domestic market. C. both goods in the world market. D. the good that is most in demand.