Which of the following is the BEST example of a monopsonist?
A) a household hiring a gardener
B) a turnip farmer hiring seasonal help
C) Hershey's Chocolate Factory in Hershey, PA
D) Vinaka Coffee Shop in Carlsbad, CA
C
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How does a company arrange to sell its products to people who are unwilling to pay the top price for them?
a) by allowing rebates to some preferred customers who buy a lot of goods b) by charging each customer the maximum amount they are willing to pay c) by charging different prices according to the group to which the buyer belongs d) by changing the product and selling a lesser one to people who are unwilling to pay for the top product
Which of the following helps a monopoly perfectly price discriminate?
A) unit demand by each consumer B) the product is perishable C) the product is personalizable D) All of the above.