Marginal revenue product is essentially the additional revenue generating from selling one additional unit of output

When firms price discriminate they

A) sell to new consumers who would not have bought at the profit-maximizing uniform price but lose sales to existing consumers because of the higher prices. B) sell to new consumers that would not have bought at the profit-maximizing uniform price. C) lose surplus from consumers who would have bought at the profit-maximizing uniform price. D) None of the above.

A tariff is

a. a law restricting the quantity of a good that may be imported b. a tax imposed on imports c. a penalty imposed on consumers for supplying goods to a market d. the terms of trade between two nations e. the ratio of opportunity costs in two nations