Pizza joints often offer substantially lower prices for pizza picked up at the shop compared to delivered pizza prices. This may be an attempt at
A) perfect price discrimination.
B) group price discrimination.
C) quantity discrimination.
D) second-degree price discrimination.
B
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National defense made up the largest portion of federal expenditures in 2009.
Answer the following statement true (T) or false (F)
Which of the following is true regarding a normative statement?
i. It uses the ceteris paribus assumption. ii. It is a value judgment. iii. It accounts for opportunity costs. A) i and iii B) ii and iii C) i only D) ii only E) i, ii, and iii
The demand curve for the product of a monopolistically competitive firm slopes downward because
A) products are perceived by consumers as different. B) products are homogeneous. C) people only care about price when they buy a good. D) the firm's goal is to maximize profits.
The amount of money received in a particular period adjusted for changes in purchasing power is called:
A. nominal income. B. real income. C. a cost-of-living index. D. consumer surplus.