In two-part pricing with identical consumers, a firm
A) charges a lump-sum fee equal to the consumer surplus.
B) sets unit price below marginal cost.
C) should go with single-price monopoly pricing to maximize profits.
D) Both A and B.
A
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The authors of the textbook would not want to say you were "littering" when you toss your peanut shells under your seat at a major league baseball game because
A) peanut shells are biodegradable. B) someone is going to clean up after you. C) the games are played outside. D) the stadium is public property and public property is no one's property. E) the people in charge of putting on the game don't mind at all.
Which is not a key economic question?
a. What goods and services should be produced? b. How should these goods and services be produced? c. Who consumes these goods and services? d. How should these goods and services be paid for?