Firms that can effectively price discriminate
A) can be either perfectly competitive firms or monopolies.
B) can prevent the resale of their products.
C) have only one class of buyers, buyers willing to pay a high price.
D) Both answers A and B are correct.
E) Both answers A and C are correct.
B
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Suppose a tax has been imposed in the graph shown. Which kind of tax is most likely demonstrated by this graph?
A. A tax on sellers
B. A tax on buyers
C. A tax on big corporations
D. A price ceiling
How do participants in an auction respond to the problem of the "winner's curse"?
a. They bid more aggressively to win the auction and avoid the "curse". b. They exit the auction because winning can only be a bad sign of the object's worth. c. All bid less aggressively, so that the winner ends up not regretting having won. d. The winner regrets having won the auction.
Most goods that are nonexcludable are pure public goods.
A. True B. False C. Uncertain
In the short run, there is a positive relationship between _____
Fill in the blank(s) with the appropriate word(s).