Author Question: Second-degree price discrimination occurs when: A) each consumer is charged exactly their ... (Read 82 times)

renzo156 · **on:** Jun 29, 2018

Second-degree price discrimination occurs when:

A) each consumer is charged exactly their willingness to pay.
B) different groups of consumers are charged different prices.
C) consumers are charged different prices at different points of time.
D) consumers are charged different prices based on characteristics of their purchase.

Question 2

According to the text, in the absence of uncertainty, no one can obtain a profit from the exclusive ownership of a scarce resource, such as a patent or a franchise, because

A) demand curves will be perfectly elastic.
B) marginal cost will equal marginal revenue.
C) profit requires active production rather than static ownership.
D) the cost of retaining ownership will rise to eliminate any profit.
E) the tax on capital gains will eliminate any profit.