The lower the price, the lower the consumer surplus, all else equal

The used car market without warranties suffers from

A) perfect competition. B) oligopoly. C) adverse selection and moral hazard. D) excessive signaling.

The following are possible examples of price discrimination except

A) prices in export markets are lower than for identical products in the domestic market. B) senior citizens pay lower fares on public transportation than younger people at the same time. C) a product sells at a higher price at location A than at location B, because transportation costs are higher from the factory to A. D) subscription prices for a professional journal are higher when bought by a library than when bought by an individual.