The practice by a monopolist of charging each buyer the highest price he/she is willing to pay is called
A) first-degree discrimination.
B) second-degree discrimination.
C) third-degree discrimination.
D) fourth-degree discrimination.
A
You might also like to view...
"Government should act to reduce poverty levels."
A) This statement is a normative statement. B) This statement is a positive statement. C) This statement is an example of the fallacy of composition. D) This statement is an example of the post hoc fallacy.
The natural right to life, liberty and pursuit of happiness is an idea of:
a. Hayek b. Schumpeter c. Marx d. Lange e. Locke
When marginal cost is greater than average total cost,
A. average fixed cost must be increasing with output. B. marginal cost must be increasing with output. C. average total cost must be increasing with output. D. average variable cost must be decreasing with output.
What happens to the marginal cost curve when the marginal physical product of labor is rising?
A) It becomes upward sloping. B) It becomes vertical. C) It becomes downward sloping. D) It becomes horizontal.