Consumers who put a high value on a service
A) are better off with perfect price discrimination.
B) are better off under a single-price monopoly.
C) are indifferent between perfect price discrimination and a single-price monopoly.
D) incur deadweight loss under either single-price monopoly or perfect price discrimination.
B
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In the market for bottled water, Fresh Springs has a 30 percent share of the market, Swiss Springs has a 27 percent share, L'eau de France has a 13 percent share, and Mountain Water has a 10 percent share
The rest of the market consists of 20 firms with a 1 percent share of the market each. What is the value of the Herfindahl-Hirschman index? A) 2,418 B) 80 C) 1,918 D) 2,818
In order to increase the money supply, the banking system must have which of the following?
What will be an ideal response?
A movement along a supply curve is induced by a change in
A. input prices. B. the product's own price. C. taxes and subsidies. D. price expectations.
Specialty chocolate bars with a high cocoa content have been drawing a lot of attention in gourmet circles in 2008 but the price of cocoa beans has increased more than 44 percent in this time period
In response to the increase in the price of cocoa beans, Rogue Chocolatier has increased the price of their gourmet chocolate bars by 20 percent. Rogue observes the quantity of their bars sold decreased by 15 percent. Based on this news clip, what does the price elasticity of demand for gourmet chocolate bars equal? A) 0.75 B) 1.25 C) 1 D) 0.66