Which of the following is necessary for a monopolist to price discriminate between groups?
A) The groups are identifiable.
B) The groups have different willingness to pay.
C) A customer from one group cannot resell to a customer in another group.
D) All of the above conditions are necessary for the monopolist to price discriminate.
D
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Which of the following is not part of an oligopolist's business strategy?
A) determining the amount of advertising a new product needs B) deciding the level of total output of a new product C) meeting worker health and safety standards required of all firms D) setting the product's price after considering what rivals will do
The country in which two of the categories of banks are clearing banks and merchant banks is
A) the United Kingdom. B) the United States. C) Japan. D) Germany.
Do you think that prices are more or less sticky today than 50 years ago? Why?
What will be an ideal response?
The above figure shows the short run cost curves for a typical firm in a competitive market. If price = 4, then the firm
A) is earning positive profits. B) should produce 35 units. C) should shut down. D) None of above.