If consumers are identical, then
A) price discrimination is impossible.
B) price discrimination can occur if each consumer has a downward-sloping demand curve for the product.
C) perfect price discrimination is the only form of price discrimination that can increase a monopoly's profit.
D) tie-in sales cannot increase a monopoly's profit.
B
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Suppose the market for cement is one where there are a large number of buyers and sellers, and everyone conducts transactions at a common market price. Which of the following statements is true about the structure of the cement market?
A) The cement market is free and competitive. B) The cement market is government regulated. C) All participants in the cement market set their own prices. D) All transactions in the cement market are likely to be involuntary.
In the context of an ultimatum game, the first player proposes a split of $100 to a second player. The second player can either accept the split or both players receive $0 . A rational second player will accept any offer a. greater than $0
b. equal to $50. c. greater than $50. d. that she thinks is fair.
The general view of economists is that a pure monopoly will not be technologically progressive.
Answer the following statement true (T) or false (F)
Members of the European Exchange Rate Mechanism (ERM)
A) agreed to buy and sell gold at a fixed rate. B) promised to maintain the values of their currencies within a fixed range. C) attempted to maintain a fixed exchange rate against the dollar. D) all agreed to charge the same interest rate on central bank loans.