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In what sense do self-fulfilling expectations determine the acceptability of a medium of exchange?

A) People like to do what the government expects them to do. B) People value something as money only if they believe others will accept it from them as payment. C) People expect that money will never lose its value. D) People expect that eventually every country will use the same medium of exchange.

Which of the following is true of perfect price discrimination?

a. Profit is lower than it would be without discrimination. b. Revenue is higher than it would be without discrimination, but profit is lower. c. Average revenue and average cost are both higher than they would be without discrimination, so it is not certain whether profit will be higher. d. Consumer surplus is zero. e. Profit is zero.