The practice of charging different prices to different consumers of the same product is called

A country's capital stock decreased after a war while its labor supply remained constant. Which of the following will happen in this case if output is a function of capital and efficiency units of labor?

A) Its total output will remain constant. B) Its total output will decrease. C) Its per capita output will remain constant. D) Its per capita output will increase.

If a firm finds itself at an output level where MR < MC, then the firm

A. should shut down, since it is losing money. B. should decrease output. C. should increase output. D. should raise the price of its product.