Effective Price Discrimination Will Enable a Perfectly Competitive Firm to Earn

question 60

True/False

Effective price discrimination will enable a perfectly competitive firm to earn positive economic profits in both the short run and the long run.

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Definitions:

Public Funds

Money collected by the government from taxes or other sources intended for public expenditure on services and infrastructure.

Unconstitutional

Referring to actions, laws, or policies that are deemed to violate the principles or provisions of a constitution, particularly that of a nation or state.

Bowers V. Hardwick

A controversial 1986 U.S. Supreme Court decision that upheld the constitutionality of a law criminalizing consensual homosexual acts, later overturned by Lawrence v. Texas in 2003.

Consensual Homosexual Activity

Sexual relations between same-sex partners that are agreed upon without coercion.