Price discrimination results in _____________ than would be observed under a single-price monopoly.
a. higher output and lower costs
b. lower output and higher costs
c. higher output and higher costs
d. lower output and lower costs
Question 2
Economic theory predicts that a profit maximizing car rental agency with some market power would set its prices in what way?
a. Charge the same for both weekday and weekend rentals.
b. Charge more for weekend rentals and less for weekday rentals.
c. Charge more for rentals during the week and less for weekend rentals.
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