Which of the following is false about quantity discounts?
a. Quantity discounts are a form of price discrimination which allow a seller to charge a higher price for the first unit than for later units.
b. Quantity discounts allow price discriminating producers to extract additional consumer surplus from customers.
c. Price discrimination, such as offering quantity discounts, can result in a greater output, and thus greater consumer surplus and producer surplus, by a monopolist than if price discrimination was not possible.
d. Quantity discounts benefit those customers who would not buy any of a monopolist's product at the price that the monopolist would charge if it could not price discriminate.
Question 2
The exchange-rate arrangement that emerged from the Bretton Woods conference is often referred to as the:
a. dollar exchange standard.
b. euro exchange standard.
c. gold exchange standard.
d. silver exchange standard.
e. flexible exchange rate standard.
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