For a perfect first-degree price discriminator, incremental revenue is
A) greater than price if the demand curve is downward sloping.
B) the same as the marginal revenue curve if the firm is a non-discriminating monopolist.
C) equal to the price paid for each unit of output.
D) less than the marginal revenue for a non-discriminating monopolist.
C
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Which example is most likely an economic assumption?
a. Ninety percent of people act out of self-interest. b. All people act out of self-interest. c. Ninety-five percent of companies decide to maximize profits. d. Ninety-five out of 100 companies decide to maximize profits.
Assume an economy with an upward-sloping aggregate supply curve and an MPC of 0.80. An increase in investment spending of $50 billion will most likely increase total income by
A. $200 billion. B. $40 billion. C. more than $200 billion. D. more than $50 billion but less than $250 billion.
A tax rebate by the government would
A) increase your pretax income, but not your disposable income. B) increase your disposable income, but not your pretax income. C) decrease your pretax income, but not your disposable income. D) decrease your disposable income, but not your pretax income.
If a nation's Lorenz curve lies on the 45 degree line of income equality, then
A. every household's income level is different. B. more of the nation's income is received by the highest 25 percent of families than by the lowest percent. C. the income received by each 25 percent of families is 25 percent of the total income. D. more of the nation's income is received by the lowest 25 percent of families than by the highest 25 percent.