Which of the following is not a way by which price-discriminating firms can segment a market?
A) on the basis of the supplier's marginal cost of production, for example requiring customers to pay a premium for customizing options
B) on basis of the buyer's location, for example requiring out-of-state students to pay higher tuition
C) on the basis of time of purchase, for example long-distance calling
D) by requiring an advance purchase, for example airline tickets
A
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Refer to Table 18-9. Sylvia is a single taxpayer with an income of $70,000. What is her marginal tax rate and what is her average tax rate?
A) marginal tax rate = 8%; average tax rate = 19.3% B) marginal tax rate = 30%; average tax rate = 22.5% C) marginal tax rate = 20%; average tax rate = 30% D) marginal tax rate = 30%; average tax rate = 30%
Which of the following is NOT a characteristic of monopolistic competition?
A) Entry and exit is restricted. B) Firms compete on price. C) A large number of firms compete. D) Firms compete on product quality.
One of the defining characteristics of an oligopoly is that:
A. one firm's behavior can affect the others' profits. B. all firms act independently to create a monopoly outcome. C. all firms act independently to create a perfectly competitive outcome. D. None of these statements is true.
Refer to the graph. Which of the lines in the diagram represent(s) a progressive tax?
A. Both A and B.
B. D only.
C. C only.
D. B only.