Fast Stop, a gasoline and grocery quick mart, charges $2 for a 20 ounce fountain drink and $3 for a 40 ounce fountain drink. This is an example of ________.
A) second-degree price discrimination
B) an all-or-nothing offer
C) two-part pricing
D) third-degree price discrimination
A) second-degree price discrimination
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Refer to Figure 19-1. Which of the following would cause the change depicted in the figure above?
A) European productivity rises relative to American productivity. B) The U.S. removes a quota on wristwatches from the European Union. C) Americans increase their preferences for goods produced in the EU relative to American goods. D) The price level of goods produced in the EU increases relative to the price level of goods produced in the United States.
The MRP of labor will shift to the left if
A) labor productivity increases. B) labor productivity decreases. C) wages increase. D) wages decrease.
The demand curve faced by a monopolist is the same as the marginal revenue curve
a. True b. False Indicate whether the statement is true or false
Which of the following will not cause consumption, and as a result, aggregate demand, to increase?
a. an optimistic business forecast of future income growth b. a tax cut c. an increase in consumer confidence d. a tax increase