The Practice of Selling the Same Goods to Different Customers

question 27

Multiple Choice

The practice of selling the same goods to different customers at different prices, but with the same marginal cost, is known as:

• A)price discrimination
• B)monopoly pricing
• C)arbitrage
• D)price segregation

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Definitions:

GDP

Gross Domestic Product, a measure of the economic output of a country, expressing the total value of all goods and services produced over a specific time period.

Consumption

Household consumption of products and services.

Investment

The allocation of resources, usually money, in expectation of a future benefit such as profit or interest.

Gross Domestic Product

The total market value of all final goods and services produced within a country in a given period, used as a broad measure of a nation's overall economic activity.