Q1. The practice of charging different consumers different prices for the same product or service is called:
A) price searching. B) price discrimination. C) variable pricing.
Q2. In order for effective price discrimination to occur the seller must: A) have more than one identifiable group of customers with the same price elasticities of demand for the product. B) face a demand curve with a negative slope. C) maximize revenue by selling at the highest price possible.
Q3. A practice whereby a seller charges different prices to different consumers of the same product or service is called:
A) price competition. B) discriminatory pricing. C) price discrimination.
Q4. For price discrimination to work, the seller must face a market with all of the following characteristics EXCEPT: A) a way of preventing customers from purchasing the product at a lower price and reselling it at a higher price. B) a downward sloping demand curve. C) high barriers to entry.
Q5. Consider the following statements: Statement 1: “The sum of consumer and producer surpluses is maximized under both monopoly and perfect competition.” Statement 2: “All else being equal, a monopolist that practices price discrimination will be more allocatively efficient than a single-price monopolist.” With respect to these statements: A) both are correct. B) both are incorrect. C) only one is correct.
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发表于 2009-1-14 13:50
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