A firm practicing direct price discrimination will charge lower prices to
a. Consumers with an elastic demand
b. All consumers
c. Consumers known to have an inelastic demand
d. Consumers known to have a unitary elastic demand
a
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A consumer values a car at $30,00 . and a producer values the same car at $20,000 . If the transaction is completed at $24,000 . the transaction will not take place if:
a. The tax is equal to the seller surplus b. The tax is smaller than the total surplus c. The tax is larger than the total surplus d. The tax is smaller than the buyer surplus
When the current state of the economy is such that Real GDP is greater than Natural Real GDP, the economy is in a(n) ____________________ gap. In this situation, the (actual) unemployment rate is ___________ than the natural unemployment rate, and there is a ________________ in the labor market
A) recessionary; greater; shortage B) inflationary; less; shortage C) inflationary; greater; surplus D) recessionary; greater; surplus E) recessionary; less; shortage