Which of the following is not a way by which price-discriminating firms can segment a market?
A) on the basis of the supplier's marginal cost of production, for example requiring customers to pay a premium for customizing options
B) on basis of the buyer's location, for example requiring out-of-state students to pay higher tuition
C) on the basis of time of purchase, for example long-distance calling
D) by requiring an advance purchase, for example airline tickets
A
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The percentage of hours worked by college educated workers since the 1960s has ________
A) fallen B) stayed essentially unchanged C) increased D) moved in the opposite direction of the college premium
In the perfectly competitive market, all firms in the market are assumed to be producing:
a. identical products. b. differentiated products. c. products that are heavily advertised. d. complementary products.