Price discrimination is the practice of
A) charging different prices for the same good when the price differences arise because of differences in cost.
B) charging different prices for the same good when the price differences are not due to differences in cost.
C) charging higher prices for brand-named goods and lower prices for generic versions of the goods.
D) charging different prices for different qualities of a product.
B
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Market supply is found by
A) horizontally summing each individual producer's average total cost curve. B) vertically summing the relevant part of each individual producer's marginal cost curve. C) horizontally summing the relevant part of each individual producer's marginal cost curve. D) vertically summing each individual producer's average total cost curve.
According to the text, the net public debt to Gross Domestic Product (GDP) ratio is currently about
A) 10%. B) 25%. C) 60%. D) 120%.