When a monopolist is able to sell its product at different prices, it is engaging in
a. distribution pricing.
b. quality-adjusted pricing.
c. arbitrage.
d. price discrimination.
d
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Assume a firm is able to use an optimal two-part tariff
a. Is the outcome economically efficient? Why or why not? b. What happens to consumer surplus? c. Does this represent perfect price discrimination? Why or why not? What will be an ideal response?
In goods market equilibrium in an open economy,
A) the desired amount of exports must equal the desired amount of imports. B) the desired amount of exports must equal the desired amount of imports less the amount lent abroad. C) the desired amount of national saving must equal the desired amount of domestic investment. D) the desired amount of national saving must equal the desired amount of domestic investment plus the amount lent abroad.
Refer to Table 2.3. Assume that 2010 is the base year. The GDP deflator for 2013 is
A) 67.1. B) 84.5. C) 100.0. D) 118.3.
List the major non-price determinants of demand
What will be an ideal response?