When an effective price ceiling is in place
A. on average the net change in consumer surplus is zero.
B. some consumers are better off and others are worse off.
C. every consumer is better off.
D. every consumer is worse off.
Answer: B
Economics
You might also like to view...
Refer to the above figure. Ajax and Greenco are oligopolists. Above you are given the payoff matrix for the two firms giving the payoff associated with different pricing strategies
What is the best strategy for Greenco if Ajax decides on charging a high price? A) high price B) low price C) There is no best strategy. D) Not enough information is given to determine the best strategy.
Economics
What are the conditions for price discrimination?
Economics