A Boy Is Able to Understand That a Bicycle Is

question 98

Multiple Choice

A boy is able to understand that a bicycle is smaller than a car even when a bicycle parked in front of him is creating a larger retinal image to him than the car,which is parked at a distance across the street.This shows that the boy has achieved

• A)shape constancy.
• B)dishabituation.
• C)size constancy.
• D)depth perception.

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Definitions:

Perfect Price Discrimination

A pricing strategy where a seller charges the maximum price that consumers are willing to pay for each unit, thereby capturing all possible consumer surplus.

Single Price Profit Maximization

A pricing strategy where a single price is set for all customers to maximize profits, disregarding any market segmentation.

Perfect Price Discrimination

A pricing strategy where a seller charges the maximum possible price for each unit which corresponds to the buyer's maximum willingness to pay.

Deadweight Loss

Deadweight loss refers to the loss of economic efficiency that can occur when the equilibrium for a good or a service is not achieved or is not achievable.