Which of the following is the worst-case scenario for a consumer?
a. Perfect competition
b. Perfect price discrimination
c. Single-price monopoly
d. Peak load pricing
b
Economics
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A temporary resource price differential refers to a price difference
a. that will not lead to a shift of resources among users b. caused by lack of resource mobility c. caused by economic rent d. that, for example, causes more workers to move to higher-paid areas e. caused by minimum wage legislation
Economics
Economic rent is the portion of a resource's total earnings above its opportunity cost
Indicate whether the statement is true or false
Economics