For a firm to maximize total profits through price discrimination, it should
a. charge a low price to high-value consumers and a high price to low-value consumers
b. charge a high price to high-value consumers and a high price to low-value consumers
c. charge a low price to high-value consumers and a low price to low-value consumers
d. charge a high price to high-value consumers and a low price to low-value consumers
d
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A market exchange rate which has been adjusted for inflation is called a
A) nominal exchange rate. B) foreign market price index. C) real exchange rate. D) domestic exchange factor.
The saying "What's that got to do with the price of tea?" reflects
A) two markets where general equilibrium analysis would be most useful. B) two markets where general equilibrium analysis likely won't be very useful. C) two markets where the products are clearly closely related. D) two markets where firms are incredibly greedy.