The Internet has made it possible to compare lots of prices without incurring a lot of cost. If Internet access is unequally distributed throughout the population one would expect
A) consumers with internet access to pay a higher price.
B) consumers without internet access to pay a lower price.
C) price discrimination against consumers without internet access.
D) firms to charge the same price to all consumers.
C
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The breakfast cereal industry has a four-firm concentration ratio of 80 percent. Is this enough information to classify the industry as an oligopoly? Is a high concentration ratio evidence that an industry is not competitive?
What will be an ideal response?
If the poor cannot afford proper medical treatment, an economist, for reasons of efficiency, would favor
a. giving the poor added income to spend as they see fit. b. paying doctors bonuses to treat the poor. c. paying the medical bills of the poor. d. giving the poor "medical stamps."