Refer to Figure 16-1. What is the price charged under perfect price discrimination?
A) P3
B) P4
C) a range of prices corresponding to the demand curve from P3 and above
D) a range of prices corresponding to the demand curve from P4 and above
C
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Gregory is considering attending a concert with a ticket price of $40. He estimates that the cost of driving to the concert and parking there will add an additional $20
In order to attend the concert, Gregory will have to take time off from his part-time job. He estimates that he will lose 5 hours at work, at a wage of $8 per hour. Gregory's opportunity cost of attending the concert equals A) $80. B) $100. C) $40. D) $60. E) $20.
In the short run, a firm cannot change the amount of capital it uses. Therefore the cost of capital is a
A) short-run cost. B) variable cost. C) productivity cost. D) fixed cost. E) marginal cost.