Pizza joints often offer substantially lower prices for pizza picked up at the shop compared to delivered pizza prices. This may be an attempt at
A) perfect price discrimination.
B) group price discrimination.
C) quantity discrimination.
D) second-degree price discrimination.
B
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What are price shocks? Why were they not included in the original formulation of the Phillips curve? Why were they added to the modern Phillips curve?
What will be an ideal response?
Producers are willing and able to offer greater quantities for sale at higher prices because
a. they have the incentive to pay the increasing opportunity cost of resources to attract them from alternative uses b. they will decrease their profits by expanding production at higher prices c. the government orders them to do so d. lower prices attract new firms, which have higher costs of production e. they hire superior quality, higher-priced resources as production expands
Suppose Ernie gives up his job as financial advisor for P.E.T.S., at which he earned $30,000 per year, to open up a store selling spot remover to Dalmatians. He invested $10,000 in the store, which had been in savings earning 5 percent interest. This year's revenues in the new business were $50,000 . and explicit costs were $10,000 . Calculate Ernie's accounting profit
a. $10,000 b. $50,000 c. $20,000 d. $40,000 e. $9,500
Which of the following statements about transfer payments is true?
a. Transfer payments are not included in total government expenditures. b. Transfer payments involve the international remittance of funds. c. Transfer payments refer to the transfer of money by the commercial banks to the people. d. Transfer payments are made by the government to taxpayers. e. Transfer payments are made when governments purchase goods and services.