Price discrimination can benefit some consumers when
a. the additional profit realized by the monopolist equals the cost incurred
b. the government comes in to regulate the market
c. competitors are also able to price discriminate
d. those consumers pay a price lower than the price they would have to pay a single-price monopolist
e. those consumers pay a price higher than the price they would have to pay a single-price monopolist
D
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A Dutch auction is a(n) ________
A) sealed-bid first-price auction B) sealed-bid second-price auction C) penny auction D) open outcry auction
Assume that the market clearing price for a shirt is $20, but that the maximum price that can be charged is $15. This is an example of
A) a price control that will lead to a surplus of shirts on the market. B) a price floor that will lead to a shortage of shirts on the market. C) markets failing to ration a fixed quantity of a good. D) a price ceiling that will likely lead to a shortage of shirts on the market.
A sudden rise in the market demand in a competitive industry leads to
a. A market equilibrium price higher than the original equilibrium in the short-run b. A market equilibrium price equal to the original equilibrium in the long-run c. Both a and b d. None of the above
What is the economic rule for the efficient amount of pollution?
What will be an ideal response?