Price discrimination is:
A. the practice of charging customers different prices for the same good.
B. the practice of charging customers the same price for a variety of similar goods.
C. choosing which prices to charge for certain items.
D. the process of customers choosing items based on price.
A. the practice of charging customers different prices for the same good.
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Explain the separate effects of each event on U.S. real GDP and the price level, starting from a position of long-run equilibrium
What will be an ideal response?
A monopolist
a. can charge whatever price it wants b. charges more than almost any consumer is willing to pay c. is constrained by marginal cost in setting price d. is constrained by demand in setting price e. always earns an economic profit