Third-degree price discrimination results when a firm sells
A. every unit at the same price.
B. its product to different groups at different prices.
C. its product by volume at a different price.
D. its product to every customer at a different price.
Answer: B
You might also like to view...
In today's world, many countries impose tariffs
A) only on imports. B) only on exports. C) on both imports and exports. D) on imports, exports, and nontraded goods.
You purchase a bag of chocolate chips for $3, a bag of flour for $1, a bag of sugar for $.50, a half dozen eggs for $.50, and a half pound of butter for $2. You use all these ingredients to make three dozen cookies. Your roommate offers you $15 for them, and you happily accept. How much does this process contribute to GDP?
A. $7 B. $15 C. $22 D. $8
The invention of the Internet should make poorer countries
a. poorer due to the expense of new technology. b. poorer because the Internet is primarily in richer countries. c. richer because technology adoption is easier. d. richer because they can distribute information without costs.
In an imaginary economy, consumers buy only hot dogs and hamburgers. The fixed basket consists of 10 hot dogs and 6 hamburgers. A hot dog cost $3 in 2006 and $5.40 in 2007 . A hamburger cost $5 in 2006 and $6 in 2007 . Which of the following statements is correct?
a. When 2006 is chosen as the base year, the consumer price index is 90 in 2007. b. When 2006 is chosen as the base year, the inflation rate is 150 percent in 2007. c. When 2007 is chosen as the base year, the consumer price index is 100 in 2006. d. When 2007 is chosen as the base year, the inflation rate is 50 percent in 2007.