With Block Pricing the Monopolist

question 79

Multiple Choice

With block pricing the monopolist:

• A)charges each consumer her reservation price.
• B)charges each consumer the same price.
• C)sells the first number of units at one price and additional units at a second price.
• D)requires the consumer to purchase minimum quantities.

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Definitions:

Transcontinental Railroad

A network of railroad trackage that crosses a continental land mass, connecting the Pacific and Atlantic coasts of the United States, completed in 1869.

Union Pacific

A major railroad company in the United States, primarily operating in the western two-thirds of the country.

Central Pacific

Often refers to the central area of the Pacific Ocean, but can also denote the Central Pacific Railroad, a key portion of the First Transcontinental Railroad in the United States.

Clement Vallandigham

A controversial American politician and leader of the Copperhead faction of anti-war Democrats during the Civil War, known for his opposition to Abraham Lincoln's policies.