Consumption spending refers to ________ spending on goods and services.
A) government B) business C) foreign D) household
Question 2
Refer to Figure 16-3. Suppose Chantal charges all her customers a uniform price of 10 for a haircut. Which of the following statements is true?
A) Chantal is maximizing revenue in market B.
B) Chantal is selling more than the profit-maximizing quantity of haircuts in market B.
C) Chantal is selling less than the profit-maximizing quantity of haircuts in market B.
D) Chantal will earn a greater profit through uniform pricing than if she practices price discriminates.
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