Successful price discrimination cannot take place if
A) customers are not able to resell the product.
B) the market is perfectly competitive.
C) the demand curve facing the firm is downward sloping.
D) the market can be segmented into different buyer groups.
B
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One result of asymmetric information in the market for used cars is that
a. few used cars are offered on the market b. few lemons are sold c. more lemons may be offered for sale than good cars d. buyers benefit at the expense of sellers e. good cars will sell for more than they are worth
What agency processes most of the electronic payments?
a. the Treasury b. the Congress c. the FDIC d. the Fed
Which of the following is not a major trading partner of the U.S.?
a. Canada b. Mexico c. Russia d. China
Based on the graph showing diminishing marginal utility of income, which action would cause the greatest loss in utility?
a. taking $30,000 from high earners
b. taking $30,000 from low earners
c. giving $30,000 to high earners
d. giving $30,000 to low earners