Author Question: The practice of charging different prices on the basis of varying customer preferences is known as: ... (Read 63 times)

AEWBW · **on:** Jun 30, 2018

The practice of charging different prices on the basis of varying customer preferences is known as:
a. arbitrage.
b. discounting.
c. price discrimination.
d. rationing.

Question 2

If a monopolist is producing at a point at which marginal revenue is greater than marginal cost, then it should:
a. continue producing at the current level.
b. raise its prices.
c. lower its prices.
d. increase the level of production.
e. decrease the level of production.