First- Degree and Second- Degree Price Discrimination Are Similar in Each

question 100

Multiple Choice

First- degree and second- degree price discrimination are similar in each of the following ways except which one?

• A)In both practices, firms earn greater economic profit than if they charged a single price for every unit.
• B)They both convert all possible consumer surplus into additional economic profit.
• C)In both practices, firms produce more than if they charged a single price.
• D)In both practices, consumers pay higher prices for the first units that they buy.

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Definitions:

Mundane Tasks

Routine, everyday activities that can be tedious but are necessary for the smooth operation of daily life or work.

Extrinsic Qualities

Characteristics or attributes that are not inherent or essential but are imposed from the outside or by external factors.

Intrinsic Qualities

The inherent characteristics, values, or virtues of a person or thing that are not dependent on external factors.

Intrinsic Motivation

Refers to the internal drive to undertake an activity for its own sake, due to interest, enjoyment, or personal satisfaction.