When a firm is able to engage in perfect price discrimination, its marginal revenue curve
A) lies below its demand curve.
B) is the same as its demand curve.
C) lies above its demand curve.
D) is the same as its supply curve.
E) is undefined because it does not exist.
B
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Real GDP is not a perfect indicator of economic welfare because ________
A) it includes the underground economy B) it includes a direct measure of health and life expectancy C) it underestimates inflation D) economic welfare depends on many factors not measured or not measured accurately by real GDP
If real GDP in the United States is growing at an annual rate of 3.2% per capita and Bolivia's real GDP per capita
is growing at a rate of 1.3%, which of the following would we expect in the long run? Assume real GDP per capita in the United States begins at a level above that of real GDP per capita in Bolivia. A) Real GDP per capita in the United States will always be 1.9% higher than real GDP per capita in Bolivia. B) The difference between the level of real GDP per capita in the United States and real GDP per capita in Bolivia will increase over time. C) The difference between the level of real GDP per capita in the United States and real GDP per capita in Bolivia will always be $1.9 trillion. D) The difference between the level of real GDP per capita in the United States and real GDP per capita in Bolivia will shrink over time.
Structural unemployment refers to unemployment resulting from:
a. technological change. b. being in the wrong geographical location c. taking the time to find the best job. d. seasonal decreases in demand for labor. e. a recession in the economy.
Proponents of the estate and gift tax argue that the tax is necessary because:
A. it generates a large portion of total federal revenue. B. it prevents "unfair" accumulation of wealth across generations. C. it is only applied to items that have not previously been taxed. D. it is the primary source of funding for Medicare and Medicaid.