The goal of "personalized pricing" is to determine how much each individual customer is willing to pay for a product. As such, it is an application of first-degree price discrimination
Indicate whether the statement is true or false
TRUE
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Why do few avocados rot, even though in some seasons of the year far more avocados are harvested than in other seasons of the year?
A) Consumers realize it would be inefficient to let avocados rot. B) Growers vary their advertising efforts with the season of the year. C) Prices fluctuate sharply as supplies increase or decrease. D) The taste for avocados varies proportionately to the supply.
If women are prohibited or discouraged from attending school but men are allowed to attend, this is an example of
A. A redistribution of capital. B. An inequality trap. C. A gender gap. D. A human capital gap.
During inflationary periods,
A. the real value of money rises. B. the real value of money remains constant. C. the real value of money falls. D. the purchasing power of money rises.
Which of the following is definitely true when nominal GDP increases?
A. The standard of living improves. B. The amount of output increases. C. The value of output increases. D. The production possibilities curve shifts outward.