Pick the best answer using the economic way of thinking. If information is a scarce good, then ignorance might be

Which of the following is NOT a requirement for a firm to be able to price discriminate?

A) monopoly power B) groups of customers with different willingness to pay for the good C) economies of scale D) ability to keep the members of different customer groups separate E) ability to prevent resales of the product by customers

Exhibit 12-1 Income for two persons NameIncome Elaine$100,000 Daniel$  40,000 In Exhibit 12-1, if the income tax system is progressive, then:

A. Elaine and Daniel will face the same tax rate and will have tax bills the same size. B. Elaine and Daniel will face the same tax rate but have tax bills that are different sizes. C. Elaine will face a higher tax rate and will have a larger tax bill than Daniel. D. Elaine will face a lower tax rate and will have a smaller tax bill than Daniel.