When a monopolist sells the same product at different prices and the prices are related to cost differences, we have
A) monopoly pricing.
B) marginal cost pricing.
C) price discrimination.
D) price differentiation.
Answer: D
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The majority of evidence points to the fact that, in the last decade in the United States, labor productivity has
A) stayed the same. B) increased. C) decreased in the manufacturing sector but increased in the service sector. D) decreased.
If the Herfindahl-Hirschman index (HHI) among the firms in the long distance telecommunications market were equal to 1755, when would the Federal Trade Commission probably challenge a proposed merger between any two of the firms?
A) It would challenge if the HHI would increase by more than 50 points. B) It would challenge if the HHI would increase by more than 100 points. C) It would challenge no matter what happened to the HHI because the market has so few firms. D) It would not challenge because the HHI is less than 1800.
Which of the following is correct?
a. No forms of capital income are taxed twice. b. The tax code cannot be rewritten to provide greater incentive to save. c. Means-tested benefits increase the incentive to save. d. There is a correlation between national savings rates and measures of economic well-being.
Refer to the given graph. A shift of the consumption schedule from C 2 to C 1 might be caused by a(n):
A. increase in real GDP.
B. reverse wealth effect, caused by a decrease in stock market prices.
C. decrease in income tax rates.
D. decrease in saving.