If the marginal cost of producing the fifth unit of output is higher than the marginal cost of producing the fourth unit of output, then at five units of output, average total cost must be rising

What is the Phillips curve? Explain the difference in movements along the Phillips curve and shifts in the Phillips curve, and explain what can cause these movements and shifts

What will be an ideal response?

Third-degree price discrimination exists when

A) the seller knows exactly how much each potential customer is willing to pay and will charge accordingly. B) different prices are charged by blocks of services. C) when the seller can separate markets by geography, income, age, etc., and charge different prices to these different groups. D) when the seller will bargain with buyers in each of the markets to obtain the best possible price.