When a monopolist practices price discrimination as opposed to setting a single price, efficiency decreases.
a. true
b. false
b. false
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Refer to Figure 7.1. Dudley values silence at
A) $100. B) $200. C) $350. D) $550.
Which of the following will shift the production possibilities curve outward?
a. a hurricane that destroys buildings throughout Florida b. an increase in the capacity utilization of existing factories c. an increase in the unemployment rate d. a decrease in the market price of both goods
An increasing percentage of women are in the work force. Which variable does this directly affect?
a. The employment-population ratio b. Productivity c. Average hours d. Population e. Technology
If trade between two countries is voluntary, one can expect that
a. one country's gain is necessarily the other's loss. b. one country will exploit the other one. c. neither country really gains from trade. d. the larger country will always gain at the expense of the smaller. e. both countries expect to gain something.