Price discrimination refers to
a. the actions of a single-price monopolist to determine the best price for its output
b. selling the same product to different customers at different prices as a result of different production costs
c. government regulation of public utility prices
d. selling the same product to different customers at different prices for reasons unrelated to production costs
e. charging a price just above average total cost in order to drive competing firms from the market
D
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Refer to Table 2-1. Assume Dina's Diner only produces sliders and hot wings. A combination of 40 sliders and 25 hot wings would appear
A) along Dina's production possibilities frontier. B) inside Dina's production possibilities frontier. C) outside Dina's production possibilities frontier. D) at the vertical intercept of Dina's production possibilities frontier.
Which of the following market structures is most similar to perfect competition?
A) Monopsony. B) Monopolistic competition. C) Oligopoly. D) Monopoly.
Suppose that real GDP is initially $14 trillion and the government attempts to increase real GDP to $15 trillion
The marginal propensity to consume is 0.8, and every $1.00 increase in real government spending crowds out $0.50 in real planned investment expenditures. Which increase in government spending below could yield the desired level of real GDP? A) $100 billion B) $125 billion C) $200 billion D) $400 billion
Cuts in government spending are a means by which inflationary gaps can be closed
Indicate whether the statement is true or false