Price Discrimination, Where Different Units of a Good Are Sold

question 494

Multiple Choice

Price discrimination, where different units of a good are sold for different prices

• A) is impossible because there can only be one market price.
• B) can be effectively practiced by all monopolists.
• C) maximizes consumer welfare because each consumer pays only the price he or she is willing to pay.
• D) is possible if the good cannot be resold.

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Definitions:

A Priori Causal Theories

Preexisting theories, acquired from culture or factors that are particularly prominent in conscious attention at the moment.

Repress Unpleasant Information

The involuntary forgetting or pushing aside of difficult or disturbing facts, thoughts, or memories.

Self-Reported Accounts

Information provided by individuals about themselves, often used in research to gather data on behaviors, attitudes, and experiences.

Confirmation Bias

The propensity to accumulate, perceive, select, and keep in mind information that endorses an individual's longstanding beliefs or propositions.