A monopolist can perfectly price discriminate:
A. when it can distinguish consumers with a high versus low willingness to pay.
B. when it offers a menu of alternatives, designed so that different customers will make different choices based on their willingness to pay.
C. if it knows perfectly the customer's willingness to pay for each unit its sells and can charge a different price for each unit.
D. whenever it chooses to as a result of its market power.
C. if it knows perfectly the customer's willingness to pay for each unit its sells and can charge a different price for each unit.
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Long-run equilibrium for a perfectly competitive firm occurs when
a. P = MC = MR = ATC b. MC = MR = AFC = ATC c. MC = MR = P > ATC d. P > MC > MR > ATC e. TR > TC
Loanable funds are the physical equivalent to capital equipment
Indicate whether the statement is true or false
NIPA annual revisions usually occur
A. every July. B. every January. C. every October. D. every April.
Technological spillover ________
A) is made possible by the nonrivalry of ideas B) generates an increase in both capital and labor C) is caused by population growth D) is caused by population decline