microeconomics 10b - Assignment Essays %

question

the practice of selling the same good or service to different consumers at different prices is called ______________ discrimination

answer

price

question

the pure monopoly extracts all surplus from consumers, yielding higher profits than any other pricing method when it employs which of the following?

answer

-first-degree price discrimination
-personal pricing
-perfect price discrimination

question

firms use price discrimination to:

answer

increase their profits

question

second-degree price discrimination is also known as ___________ pricing

answer

block

question

by charging consumers the highest price they are willing and able to pay, ____________ extracts all surplus from consumers, yielding higher profits than any other pricing method available to the firm

answer

a pure monopoly

question

the practice of charging each and every consumer the price that she is willing and able to pay for a good or service describes

answer

-personal pricing
-first-degree price discrimination
-perfect price discrimination

question

the practice of selling the same good or service to different consumers at different prices is called...

answer

price discrimination

question

the practice of charging different prices per unit for different quantities, or blocks, of a good or service is called:

answer

-second-degree price discrimination
-block pricing

question

price discrimination is only possible when a firm is a price _______________

answer

maker

question

the pure monopoly extracts all surplus from consumers, yielding higher profits than any other pricing method when it employs which of the following?

answer

-first-degree price discrimination
-perfect price discrimination
-personal pricing

question

in a pure monopoly, the firm is willing to sell anyone willing and able to pay at least the marginal cost of production

answer

the result is that output is produced where D = MC

1 of 11

question

the practice of selling the same good or service to different consumers at different prices is called ______________ discrimination

answer

price

question

the pure monopoly extracts all surplus from consumers, yielding higher profits than any other pricing method when it employs which of the following?

answer

-first-degree price discrimination
-personal pricing
-perfect price discrimination

question

firms use price discrimination to:

answer

increase their profits

question

second-degree price discrimination is also known as ___________ pricing

answer

block

question

by charging consumers the highest price they are willing and able to pay, ____________ extracts all surplus from consumers, yielding higher profits than any other pricing method available to the firm

answer

a pure monopoly

question

the practice of charging each and every consumer the price that she is willing and able to pay for a good or service describes

answer

-personal pricing
-first-degree price discrimination
-perfect price discrimination

question

the practice of selling the same good or service to different consumers at different prices is called...

answer

price discrimination

question

the practice of charging different prices per unit for different quantities, or blocks, of a good or service is called:

answer

-second-degree price discrimination
-block pricing

question

price discrimination is only possible when a firm is a price _______________

answer

maker

question

the pure monopoly extracts all surplus from consumers, yielding higher profits than any other pricing method when it employs which of the following?

answer

-first-degree price discrimination
-perfect price discrimination
-personal pricing

question

in a pure monopoly, the firm is willing to sell anyone willing and able to pay at least the marginal cost of production

answer

the result is that output is produced where D = MC

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