Price discrimination refers to
A. selling a given product for different prices at two different points in time.
B. any price above that which is equal to a minimum average total cost.
C. the selling of a given product at different prices that do not reflect cost differences.
D. the difference between the prices a purely competitive seller and a purely monopolistic seller would charge.
E. None of the above
Price discrimination refers to
A. selling a given product for different prices at two different points in time.
B. any price above that which is equal to a minimum average total cost.
C. the selling of a given product at different prices that do not reflect cost differences.
D. the difference between the prices a purely competitive seller and a purely monopolistic seller would charge.
E. None of the above
For unlimited access to Homework Help, a Homework+ subscription is required.
Related textbook solutions
Related questions
b) There are only a few companies in the industry c) These industries offer only few products d) None of the above |
b) A large amount of advertising occurs c) Price will be higher than in other market structure d) None of the above |
b) an experience good c) a homogenous good d) None of the above |
b) Brand name c) Warranties d) All of the above e) None of the above |
False |
b) 12 c) 8 d) 10 e) None of the above |
False |
b) 50% c) 72% d) None of the above |
b) 42% c) 33% d) 38% e) None of the above |
False |
False |
False |
b) No c) Not enough information |
False |
False |
b) is violating the law c) Can charge different price to customers |
b) It is justified economically |
b) rigidities observed in prices in oligopolistic industries c) fluctuations observed in prices in oligopolistic industries d) all of the above e) none of the above |
b) average profit c) marginal profit d) marginal cost e)marginal revenue |
b) size and frequency of orders c) product heterogeneity d) a and b only e) a, b, and c |
1. Which of the following would shift a supply curve in a perfectly competitive market for a good?
A. | a change in the number of buyers | |
B. | a change in input prices | |
C. | a change in price of a consumption complement | |
D. | a change in the good's price |
2. Which of the following would not occur in the short run if a binding price floor were raised in perfectly competitive market?
A. | an increase in total surplus | |
B. | a decrease in consumer surplus | |
C. | a decrease in the quantity actually traded | |
D. | an increase in gap between quantity demanded and quantity supplied |
3. What is price discrimination?
A. | selling products that are similar to, but not exactly the same as a competitor's products | |
B. | selling the same product to different consumers at different prices | |
C. | selling a good at a price above marginal cost | |
D. | selling a good at a price above average variable cost |
4. Assume that the wholesale skim milk market is perfectly competitive. Suppose demand is described by P=5.10-0.80Q and supply is described by P=1.90+0.20Q. If there are no price controls, what would be the equilibrium quantity? (Answers must be within 0.10 of the actual value to be counted as correct.)
__________________________________________________________________________