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Under conditions of third-degree price discrimination, a firm:
Select one:
Will charge a price equal to the marginal cost.Will charge the highest prices to those customers with the least elastic demand.Will capture all of consumer surplus as profit for the firm.Will charge the highest prices to those customers with the most elastic demand.
A cartel will maximize profit when
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According to kinked demand curve model, if a firm lowers its price, its competitors will _____.
Increase their price because they don't have many competitorsLower their price to match the reduction.Produce more outputWait and expect to see their market share rise.
Which of the following is not the reason why cartels are unstable?
Firms cannot foresee the price, which will lead to make wrong decision and low the profit.One of firms can earn more money by producing more than its output quota.Individual members may want to cheat.One firm's action will affect other firms.
a firm has total costs tc of 16000 over the next three months total for the 3 months - not per month of which 6000 are
Discuss at least two of the U.S. Supreme Court rulings or current trends in regards death penalty and explain how they have impacted capital punishment in the United States.
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Calculate Kalvin's expected haul over the four event crime spree and calculate the probability that Kalvin will never get caught over the four days.
who benefits from a tariff or quota? who loses? why would domestic markets benefit from protectionist trade policies?
Explain the effects of the $26 a week increase in the minimum wage on the workers' surplus and the firms' surplus. Has the labour market become more efficient or less efficient? Explain and show the welfare measurement analysis in the graph.
Discussion about the amount of money being spent on college sports
The prairie dog has always been considered a problem for American cattle ranchers. They dig holes that cattle andhorses can step in, and they eat grass necessary for cattle. Recently, ranchers have discovered that there is a demandfor prairie dogs as..
Calculate the quantity demanded at prices of $5, $4, and $3 and calculate the prices necessary to sell 1,250, 1,500 and 1,750 thousand s of five gallon containers.
The Kentucky Derby is held the first Saturday in May at Churchill Downs in Louisville, KY. The racing track is one and one-quarter miles. The winners since 1990, their margin of victory, the winning time, and the payoff on a $2 bet.
Raider Inc., an American importing firm anticipates an outflow of ¥893 million in 6 months. Raider's management team is worried about the course of the ¥/$ exchange rate over the next 6 months and decides to hedge.
If an economy experiences a decrease in consumer spending, most economists believe:
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