Which of the following is NOT an example of price discrimination?
A. Pharmaceutical companies charge customers living in wealthier countries higher prices than for identical drugs in poorer nations.
B. A hard cover book selling for more than the same book in electronic form
C. Breakfast cereal makers sending coupons to select buyers
D. Student discount at a local movie theater
Answer: B
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In general, microeconomic theory assumes that firms attempt to maximize the difference between
a. total revenue and accounting costs. b. price and marginal cost. c. total revenues and economic costs. d. economic costs and average cost.
If households in the economy decide to take money out of checking account deposits and put this money into savings accounts, this will initially
A) decrease M1 and increase M2. B) decrease M1 and decrease M2. C) decrease M1 and not change M2. D) increase M1 and decrease M2.