The manager of a firm is attempting to practice third degree price discrimination. She has equated the marginal revenue in each of her markets. By doing this her
A) profits are maximized.
B) costs are minimized given her level of output.
C) revenues are maximized given her level of output.
D) all of the above
C
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The base year is 2012. A country only produces Blu-ray players. The price of a Blu-ray player in 2012 was $100. The price of a Blu-ray player was $90 in 2013
The quantity of Blu-ray players produced in 2012 was 10,000 units and in 2013 was 10,500 units. Real GDP in 2012 equals A) $945,000. B) $1,000,000. C) $900,000. D) $1,050,000. E) an amount that cannot be determined without information about real GDP in 2007 .
The emigration of some of Whoville's workers reduces the quantity of thingamabobs supplied at every price by 50 . The new supply curve will ____ the old supply curve
a. be steeper and less elastic at every price than b. have the same slope and the same elasticity at every price as c. have the same slope and be more elastic at every price than d. More information is needed to predict the relationship between the elasticities of the two supply curves.