A lender usually knows less about the creditworthiness of a borrower than the borrower does. This is an example of:

Second-degree price discrimination is the practice of charging

A) the reservation price to each customer. B) different prices for different quantity blocks of the same good or service. C) different groups of customers different prices for the same products. D) each customer the maximum price that he or she is willing to pay.

Consumers must understand the law of diminishing marginal utility in order to maximize their satisfaction

a. True b. False