Establishing different prices for similar products to reflect differences in marginal cost in providing those goods to different groups of buyers is
A. price discrimination.
B. cost-plus pricing.
C. product differentiation.
D. price differentiation.
Answer: D
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The input demand functions that can be derived from cost functions are referred to as "contingent" demand functions because the functions:
a. assume input costs are constant. b. express input demand as a function of output. c. depend on the assumption of profit maximization. d. assume constant returns to scale in production.
Starting from long-run equilibrium, an increase in autonomous investment results in ________ output in the short run and ________ output in the long run.
A. lower; potential B. higher; higher C. lower; higher D. higher; potential
A downward shift in the Fed's policy reaction function corresponds to a ________ the aggregate demand curve and a decrease in exogenous spending corresponds to a ________ the aggregate demand curve.
A. movement up; shift right of B. shift left of; movement up C. shift left of; shift right of D. shift right of; shift left of
When is it a good decision to hire a celebrity endorser of your product?
What will be an ideal response?