Nonlinear price discrimination
A) sets the price consumers pay based on quantity purchased.
B) is where the firm sets prices in geometrically or exponentially decreasing price points.
C) is used in situations where consumers have no reservation prices.
D) eliminates deadweight loss.
A
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Any point on the production possibility frontier is
A) attainable and might be allocatively inefficient. B) attainable and must be allocatively efficient. C) less production efficient than a point in the interior of the PPF. D) always allocatively efficient but might or might not be production efficient. E) always production efficient and always allocatively efficient.
If the level of government spending increases at the same time the Fed is pursuing contractionary monetary policy, we know that
a. incomes will fall. b. the interest rate will rise. c. incomes will rise. d. the interest rate will fall.
To complete the theory of exchange rates, a model should be created that:
a. accommodates short-run changes in variables. b. accommodates long-run changes in variables. c. accommodates changes in expectations. d. accommodates short-run and long-run changes in variables and changes in expectations
What is on the horizontal axis when we draw a total product curve?
a. total cost b. marginal cost c. quantity of output d. quantity of a variable input