Perfect price discrimination occurs when:
A) a firm charges wealthier buyers a lower price.
B) a firm charges each buyer exactly their willingness to pay.
C) a firm charges the same buyer different prices at different points of time.
D) a firm charges different buyers according to the characteristic of their purchase.
B
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Antitrust law is law that
A) does not allow individuals to open trust savings accounts. B) prohibits competition in certain industries. C) prohibits certain kinds of market behavior by firms. D) allows firms under special circumstances to be a monopoly.
In the new Keynesian model, the ultimate effect on inflation of an anticipated aggregate demand shock is ________
A) less than if that event was unanticipated B) greater than if that event was unanticipated C) the same as would develop if that event had never occurred D) independent of whether or not that event is anticipated or unanticipated
As output rises,
A. AFC rises. B. AFC falls. C. AFC remains the same. D. there is no way of determining what happens to AFC.
The level of pollution at which the marginal benefits equal the marginal cost of cleaning up is always
A. the pollution maximum. B. the pollution minimum. C. the optimal quantity of pollution. D. the zero pollution level.