Which of the Following Statements Is True

question 99

Multiple Choice

Which of the following statements is true?

• A)Consumer surplus under perfect price discrimination is greater than under single-price monopoly pricing.
• B)Consumer surplus under an optimal two-part tariff is greater than that under single-price monopoly pricing.
• C)Although consumers reap some consumer surplus under a single-price monopoly, society is better off with optimal two-part tariff pricing.
• D)Of the three pricing schedules, single-price monopoly, an optimal two-part tariff, and perfect price discrimination, profit is highest under single-price monopoly pricing.

Grasp the historical impact of the Industrial Revolution on business practices and society.

Differentiate between for-profit and not-for-profit organizations and their operational priorities.

Discern the importance and methods of competitive differentiation within industries.

Understand the relationship between technology and capital and their roles as factors of production.

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Definitions:

Crashing

A project management technique used to shorten the duration of a project by increasing resources for critical activities, typically at increased costs.

CPM Network

A project management tool that uses critical path method (CPM) to model tasks and activities in a project, showing the sequence and duration of each.

Project Cost

The total expenses incurred in the undertaking of a project including materials, labor, equipment, and overhead costs.

Crash Cost

Crash Cost relates to the increased costs associated with speeding up a project's timeline, beyond the standard pace, to achieve an earlier completion.