When a monopolist sells the same product at different prices and the prices are related to cost differences, we have
A) monopoly pricing.
B) marginal cost pricing.
C) price discrimination.
D) price differentiation.
D
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The resource based view locates the source of competitive advantage at the
a. Individual firm level b. Industry level c. Both a and b d. None of the above
The winner's curse is more likely when the value of a good at auction is common knowledge
a. True b. False
Currently, total private sector expenditures in the United States:
a. remained close to one third of GDP. b. fell by half to 50 percent of GDP. c. fell by half to 65 percent of GDP. d. remained close to 60 percent of GDP.
Marco earns more than Antonio. A legislator proposes taxing Marco to supplement Antonio's income. A libertarian would view this proposal as
a. a way to improve the welfare of all in society. b. a way to enhance Antonio's income in a socially responsible way. c. validation of the role of diminishing marginal utility over the maximin criterion. d. an inappropriate role for government, since government should not redistribute income.