For price discrimination to exist, all of the following are necessary EXCEPT
A) a downward sloping demand curve.
B) an identifiable group of buyers with different elasticities of demand.
C) an upward sloping marginal cost curve.
D) there can be no resale of the product.
C
You might also like to view...
State and local governments in 2007 accounted for approximately _____ percent of all government spending
a. 15 b. 25 c. 60 d. 85 e. 40
Due to free entry and exit in monopolistic competition, in the long run price must be equal to
As firms leave a monopolistically competitive industry that is sustaining economic losses:
A. the demand curves facing the remaining firms in the industry shift to the left. B. total quantity demanded increases for the industry. C. the demand curves facing the remaining firms in the industry shift to the right. D. the market supply curve shifts to the right.
Suppose that one worker can produce 15 cookies, two workers can produce 35 cookies together, and three workers can produce 60 cookies together. What is the average product of the first two workers?
A) 15 cookies B) 20 cookies C) 17.5 cookies D) 35 cookies