Entry deterrence is always the best strategy for a monopolist.

When expectations cause people to discriminate against a certain group, it is referred to as:

A) preferential bias. B) implicit discrimination. C) statistical discrimination. D) taste-based discrimination.

Let MUa and MUb stand for the marginal utilities of apples and bagels. Let Pa and Pb stand for their prices. The general necessary condition for consumer equilibrium is

A) MUa = MUb. B) MUa = MUb and Pa = Pb. C) MUa/Pa = MUb/Pb. D) MUa/MUb = Pb/Pa.