Many theme parks charge an entrance fee and a per-ride fee equal to zero. This is an example of
A) bundling.
B) a two-tier tariff.
C) multimarket price discrimination.
D) perfect price discrimination.
B
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Two advisors to the president have given their policy recommendations, and they are in disagreement. Why do these economists disagree?
A. Because they do not have all relevant information about the problem B. Because they disagree on the nature of some cause–effect relationship C. Because they have different values and opinions D. All of the above are reasons for disagreements among economists.
The profit-maximizing price of the monopolist compared to the perfectly competitive industry in the above figure are, respectively
A) P1 and P3. B) P1 and P5. C) P1 and P2. D) P2 and P5.
If decreasing long-run average cost is inherent in an industry's technology, then only one supplier can satisfy the entire market
Indicate whether the statement is true or false
What are the advantages and disadvantages of resource allocation under monopolistic competition compared to perfect competition?