Which of the following conditions must be TRUE so that a firm can price discriminate?
A) There are no other firms in the market.
B) The good is a nondurable.
C) The good cannot be easily resold.
D) All of the above.
C
Economics
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The price of a new car is $40,000 while the price of a five-year old car of the same brand is $16,000. The next year the price of the new car increases to $44,000 and the price of a five-year old car of the same brand is $17,600
The relative price of the used car A) decreased by $2,400. B) decreased by 10 percent. C) increased by 10 percent. D) remained constant at 0.4.
Economics
A unit tax of $1 will always
A) shift the supply curve upward by more than $1. B) shift the supply curve upward by less than $1. C) shift the supply curve up by exactly $1. D) leave the supply curve unchanged.
Economics