The segmenting of customers into several small groups such as household, institutional, commercial, and industrial users, and establishing a different rate schedule for each group is known as:
a. first-degree price discrimination
b. market penetration
c. third-degree price discrimination
d. second-degree price discrimination
e. none of the above
c
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WTO rulings with respect to environmental issues have:
a. generally had very adverse effects on the environment. b. generally increased regard for environmental protection. c. caused substantial decreases in international trade. d. caused countries to adopt more stringent laws more affecting imports than domestic producers.
Refer to the figure above. What is the change in consumer surplus when the market changes from perfect competition to a monopoly?
A) The consumer surplus increases by 30 units. B) The consumer surplus decreases by 45 units. C) The consumer surplus increases by 90 units. D) The consumer surplus decreases by 135 units.