Which of the following is a necessary condition for a monopolist to efficiently price discriminate?
a. The firm should accept the market price as given
b. The firm should study consumers to determine their willingness to spend on the product.
c. The firm should produce the quantity of output where price equals marginal cost.
d. The firm should acquire a patent that gives it exclusive legal rights to make, use, and sell the product for a limited time.
b
Economics
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Export promotion has been more successful than import substitution
a. True b. False
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Decreasing aggregate demand to eliminate an inflationary gap often creates the problem of
a. unemployment. b. increasing real GDP. c. increasing inflation. d. increasing the labor force.
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