Price discrimination is never perfect because:
A) it increases consumer surplus.
B) it is regulated by the government.
C) it lowers profits of producers to an extent.
D) it is impossible to know consumers' willingness to pay.
D
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Which of the following statements is true?
A) Output is likely to be the same in a command economy and a market economy. B) Output is likely to be lower in a market economy than a command economy. C) Output is likely to be lower in an economy with extractive institutions than an economy with inclusive institutions. D) Output is likely to be the same in an economy with extractive institutions and an economy with inclusive institutions.
In the United States, most periods of very high inflation occurred
A) during times of war. B) during recessions. C) in the past 25 years. D) before the year 1800.