What is the equilibrium condition for price discriminating monopoly firm? Give some examples for price discrimination
The equilibrium condition is:
MC = MRA = MRB = MRC
Examples include: (a) Movie theaters charging a lower price for children and senior citizens than for other viewers (b) Fast food restaurants offering discount to students (c) Theme parks charging lower admission prices to in-state residents
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Which of the following characteristics of a production possibilities frontier indicates that trade-offs must be made?
A. The downward slope B. The upward slope C. The constant slope D. The curvature
Which of the following would cause the actual deposit expansion multiplier to be less than its potential?
a. the general public holding of funds in the form of currency rather than bank deposits b. the holding of excess reserves by commercial banks c. the general public holding of funds in the form of coins rather than bills d. both a and b
If the price was $8, her consumer surplus would be
Demand and Utility Schedules for Packs of Star Wars Trading Cards
A. $27.
B. $19.
C. $8.
D. $3.
Evidence suggests that income inequality in China is
A. increasing relatively rapidly. B. decreasing relatively rapidly. C. increasing relatively slowly. D. decreasing relatively slowly.